BP announced on Tuesday that it has approved the development of a green hydrogen facility at its Castellon refinery in Spain. The British energy company also indicated that it is preparing to make a final investment decision (FID) by the end of the year on a 100-megawatt green hydrogen project in Germany.
These projects aim to produce sustainable aviation fuel and green hydrogen, supporting BP’s decarbonization goals. The move aligns with BP’s recent second-quarter profit report of $2.76 billion, which surpassed expectations and led to an increase in dividends.
This decision follows Shell’s recent announcement to proceed with a similar hydrogen project at its German refinery, highlighting a growing trend among energy companies to invest in hydrogen technology.
