Cancelled and postponed green hydrogen projects
Here are some projects that have been cancelled, postponed or scaled back.
** Energy company LEAG's plans to build one of Europe's largest green energy hubs on the site of disused coal-fired power plant units in eastern Germany have been postponed indefinitely, it said in June.
** Steelmaker ArcelorMittal (MT.LU), opens new tab had planned to convert two plants in Germany to green hydrogen, but it shelved the 2.5 billion euro ($2.9 billion) plan in June despite the offer of 1.3 billion euros in public subsidies.
** Iberdrola (IBE.MC), opens new tab, Europe's largest utility, scaled back its green hydrogen ambitions by almost two thirds in March 2024 after funding delays for some projects. Its 2030 production target fell to about 120,000 tons of green hydrogen a year, compared with a previous goal of 350,000 tons.
** Spain's Repsol (REP.MC), opens new tab cut its 2030 target for green hydrogen production by up to 63% in February to between 0.7 gigawatts (GW) and 1.2 GW of electrolyser capacity by the end of the decade, with Chief Executive Josu Jon Imaz highlighting the challenges of a high-cost industry heavily reliant on subsidies.
** BP (BP.L), opens new tab said in April that it was shutting its team looking into hydrogen and liquefied natural gas (LNG) for transport.
** Shell (SHEL.L), opens new tab scrapped plans for a low-carbon hydrogen plant on Norway's west coast owing to lack of demand, it said in September, days after Equinor (EQNR.OL), opens new tab cancelled a similar project planned for Norway.
** Oil refiner and biofuel maker Neste (NESTE.HE), opens new tab withdrew in October from an investment into renewable hydrogen production at its plant in Porvoo, Finland, citing challenging market conditions.
** Origin Energy (ORG.AX), opens new tab said in October that it intended to exit a potential hydrogen development project in the Hunter Valley Hydrogen Hub (HVHH) in New South Wales.
** Global commodities trader Trafigura (TRAFGF.UL) in March abandoned plans to build a A$750 million ($491.5 million) green hydrogen plant at its Port Pirie lead smelter in South Australia.
** Australian billionaire Andrew Forrest in July last year cut back plans for his company, Fortescue (FMG.AX), opens new tab, to produce 15 million metric tons of green hydrogen by 2030, blaming costs and the amount of renewable energy sources needed.
** Woodside Energy (WDS.AX), opens new tab, Australia's largest independent oil and gas producer, shelved two green hydrogen projects in Australia and New Zealand last September.
** The Queensland state government this year pulled funding for a A$12.5 billion plant to produce 200 tons of liquefied hydrogen by 2028, placing the future of one of Australia's largest and most advanced green hydrogen projects in serious doubt. Japanese investors Kansai Electric (9503.T), opens new tab and Iwatani (8088.T), opens new tab exited soon after.
** U.S. startup Hy Stor Energy in September cancelled its reservation for more than 1 GW of electrolyser capacity with Norwegian electrolyser manufacturer Nel (NEL.OL), opens new tab.
** Air Products said in February that it was looking to cancel plans to construct a 35 ton per day facility to produce green liquid hydrogen in Massena, New York, largely because of regulatory developments rendering existing hydroelectric power supply ineligible for the Clean Hydrogen Production Tax Credit.
** Japan's Kawasaki Heavy Industries (7012.T), opens new tab walked away from a coal-to-hydrogen project in Latrobe last December, citing time and cost pressures.
($1 = 1.5260 Australian dollars)
($1 = 0.8613 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
22 minutes ago
- The Independent
Ruben Amorim pushing for Man United to sign Carlos Baleba this summer
Manchester United are actively trying to do a deal for Carlos Baleba in this window, as Ruben Amorim pushes for a midfielder to accelerate his rebuild. Brighton are understood to want around £120m for the 21-year-old, with owner Tony Bloom generally unmoving as regards such prices. The United hierarchy are currently figuring out how to construct a payment package, with one consideration to offer an initial £80m with the rest made up of add-ons. There would be a will to send a player such as Jadon Sancho the other way, but it is not seen as likely that Brighton go for that. While United anticipate outgoings in the remainder of the window, their available budget under PSR has been aided so far by the construction of their three big deals so far - Matheus Cunha, Bryan Mbuemo, Benjamin Sesko - and how much has been paid in first instalments. Amorim is insistent on a midfielder to fit the team together, and Baleba has been identified as best fitting the profile they want. A further attraction is that, while he offers exactly what United need right now, he also has huge potential. If the club cannot get him this summer, they will almost certainly go again next year. The same could be true for United's preferred alternative, Adam Wharton. The club may try for the Crystal Palace defensive midfielder if they cannot get Baleba, but also hold a long-term interest to pair the two together. It is nevertheless anticipated that Wharton could cost even more this summer, with Palace chairman Steve Parish unwilling to do business given that they could yet lose Marc Guehi and Eberechi Eze. United have also looked at Sporting's Morten Hjumland, although there are questions over whether he quite has the physicality for the position they want. Atalanta 's Ederson is also admired, albeit in a slightly different role. Baleba himself is highly keen on the move.
BreakingNews.ie
23 minutes ago
- BreakingNews.ie
Around 2,150 jobs at risk as Claire's Accessories appoints administrators
Fashion accessories chain Claire's has appointed administrators for its Ireland and UK business, putting around 2,150 jobs at risk. The US parent firm for the high street retailer said it has filed a formal notice to administrators from advisory firm Interpath. Advertisement In a statement on Wednesday evening, Interpath confirmed Will Wright and Chris Pole have been appointed joint administrators. The move will raise fears over the future of its 306 stores, with 278 of these in the UK and 28 in Ireland. Administrators are set to seek a potential rescue deal for the chain, which has seen sales tumble in the face of recent weak consumer demand. Claire's UK stores will remain open as usual, and store staff will stay in their positions once administrators are appointed, the company said. Advertisement Interpath said the joint administrators will be contacting all of Claire's employees in the UK and Ireland to 'provide further information about what the administration means for them'. Will Wright, UK chief executive at Interpath, said: 'Claire's has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing. 'Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company. 'This includes exploring the possibility of a sale which would secure a future for this well-loved brand.' Advertisement It comes after the US-based Claire's group filed for Chapter 11 bankruptcy in a court in Delaware last week. It is the second time the group has declared bankruptcy, after first filing for the process in 2018. Chris Cramer, chief executive of Claire's, said: 'This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets. 'In the UK, taking this step will allow us to continue to trade the business while we explore the best possible path forward. We are deeply grateful to our employees, partners and our customers during this challenging period.' Advertisement Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: 'Claire's attraction has waned, with its high street stores failing to pull in the business they used to. 'While they may still be a beacon for younger girls, families aren't heading out on so many shopping trips, with footfall in retail centres falling. 'The chain is now faced with stiff competition from TikTok and Insta shops, and by cheap accessories sold by fast fashion giants like Shein and Temu.'
Reuters
23 minutes ago
- Reuters
Centrica frontrunner to buy National Grid's LNG terminal in $2 billion deal, FT reports
Aug 13 (Reuters) - British Gas owner Centrica (CNA.L), opens new tab and Energy Capital Partners are in talks to buy the Isle of Grain LNG terminal from National Grid (NG.L), opens new tab in a deal valued at about 1.5 billion pounds ($2.03 billion), the Financial Times reported on Wednesday. Centrica declined to comment on the FT report, while National Grid and Energy Capital did not immediately respond to Reuters' requests for comments. National Grid, which owns and operates Britain's high-voltage electricity transmission network, had said last year it was seeking to sell its Grain LNG terminal, Europe's largest such facility, as part of its efforts to streamline operations. FT said a deal could be announced shortly. Centrica announced in July it had signed an agreement to acquire a 15% equity stake in Britain's new nuclear project, Sizewell C. The company also reported a drop in its first-half profit. Hong Kong's CK Infrastructure Holdings ( opens new tab was among the interested parties for the terminal, but has reportedly dropped its pursuit, Bloomberg News reported earlier this month. LNG has become a vital source of gas for Europe, especially after the Russia-Ukraine conflict and as the subsequent Western sanctions on Russia disrupted energy markets. The resulting price surge continues to weigh on British consumers. ($1 = 0.7373 pounds)
