Multiple factors have led developers to abandon announced low-carbon hydrogen projects. Strategy pivot is top among them, accounting for 48% of cancelled capacity (24% of project count) and around 6 million tpa of hydrogen capacity. Developers are reconsidering commitments made during the sector’s early, optimistic phase and now are strategically pivoting back towards their core businesses, opting to scale down risky hydrogen investments in favor of more reliable returns. For example, BP and Australia’s Origin Energy have suspended…
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