Energy giant BP has announced a final investment decision for a massive £8 billion green hydrogen production facility in Teesside, marking the largest single investment in the UK's nascent hydrogen economy.
The 'H2Teesside' project aims to produce 1GW of green hydrogen by 2030, enough to decarbonize several major industrial plants in the region. The project is expected to create 3,000 construction jobs and 500 permanent high-skilled roles.
"Teesside is becoming the engine room of the UK's net-zero transition," said the BP CEO. "This project demonstrates that large-scale decarbonization is not just an environmental necessity, but a major industrial opportunity."
The government has welcomed the move, providing a package of revenue support through the new Hydrogen Business Model to ensure the project's long-term commercial viability.
