A project held up as a flagship for Australia's fledgling green hydrogen industry loses its biggest backer as Origin Energy abandons plans for the fuel.
Energy company Origin has dropped out of the Hunter Valley Hydrogen Hub project, citing uncertainty in the market for the alternative fuel.
What's more, Origin told investors it "intends to cease work on all hydrogen development opportunities". He said the government's incentives – headlined by its $8 billion hydrogen head-start program – could "unlock" billions of dollars in private investment."Origin's decision is disappointing for the workers and businesses developing Hunter hydrogen hub," the minister said.
Instead of ploughing on with its hydrogen plans, Origin said it would focus on investing money in renewable energy assets such as wind and solar farms and battery storage projects.
Energy Hydrogen Exit Orica Federal Government Fortescue Origin Energy Hunter Valley Hydrogen Hub
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