The HyGreen Teesside hydrogen project is no longer moving forward, with BP continuing a shift away from investments in green and renewable energy.
Upon completion, the expectation was that HyGreen Teesside would have become one of the UK’s largest hydrogen production facilities, reaching a capacity of 500MW, while also creating up to 500 jobs – the majority of which would have gone to local people in the surrounding Middlesbrough and Stockton area.
BP announced back in February its plans to increase investments in oil and gas by 20%, or £7.9 billion a year, while drawing back on backing for renewables by almost £4 billion. Chief Executive, Murray Auchinloss claimed that BP had gone “too far, too fast” in the transition away from fossil fuels and described its faith in green energy as “misplaced” with the aim to reset strategy and focus on boosting returns for shareholders instead.
Moving forward, BP says it is focused on “significant projects in Teesside” which include NZT Power, NEP and H2Teesside, with it throwing its weight behind the carbon capture and storage and blue hydrogen projects.
