Labor has faced a major setback in its push towards a renewable energy future as Origin Energy has announced its decision to “cease work on all hydrogen development opportunities”.
Origin decided to scrap one of the country’s most advanced hydrogen projects on Thursday and cited the “risks associated with developing capital-intensive projects of this nature”.
Origin’s chief executive, Frank Calabria, said he was grateful for the “strong government support” but expressed the “risks” and “input costs” were insurmountable. “However, it has become clear that the hydrogen market is developing more slowly than anticipated and there remain risks and both input cost and technology advancements to overcome.”
Origin had originally envisioned a facility with a 55-megawatt electrolyser capable of producing up to 5,500 tonnes of green hydrogen annually.
Renewables Energy Origin Energy Origin Hydrogen Development Project Hunter Valley Hydrogen Hub Farm Input Costs Renewables Origin CEO Frank Calabria Hydrogen Energy Green Energy Hvhh
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