BP has reportedly agreed to take a stake in the Asian Renewable Energy Hub in the East Pilbara.
The Australian newspaper said the British-owned energy giant was expected to next week announce the purchase of an equity interest of about 30 per cent in AREH, alongside the project’s existing owners, CWP Global, Vestas and Pathway Investments.
The project includes 26 gigawatts of wind and solar generation. much of which would be used to produce green hydrogen and ammonia.
The consortium has pressed ahead with its plans despite the Federal Government last year rejecting revised proposals on the basis they went against terms of the Environmental Protection and Biodiversity Act.
Environment Minister Sussan Ley said in July 2021 the changes to facilitate the large-scale wind and solar renewable energy project would have a “clearly unacceptable” environmental impact.
The Government cited environmental impacts to significant sites including the Eighty Mile Beach Ramsar site and migratory animals, including waterbirds.
The AREH anticipates a final development decision be made by 2025, with construction starting in 2026.
BP declined to comment.