BP Is Cancelling More Than its Unprofitable Wind and Solar Ventures

News of BP’s radical shift in corporate strategy has been widely reported, including here in recent days. Most of the reporting has thus far focused on the company’s major cuts in capital allocations for traditional intermittent energy projects, notably wind and solar.

Today comes news that the British oil giant is cancelling plans for what would have become the largest green hydrogen project in the UK, a major development called HyGreen Teesside. So-called “green” hydrogen is produced via an electrolysis process powered by 100% intermittent energy sources, like wind and solar, or by a zero emissions source like hydro-power.