BRISBANE, Australia — Australia’s initiative to promote green hydrogen is facing strong headwinds as some companies suspend plans or abandon operations amid high costs for the renewable energy that drives production.
In early October, major power company Origin Energy announced plans to withdraw from a hydrogen project it was working on in eastern New South Wales and signaled intentions to cease work on all hydrogen development. “It has become clear that the hydrogen market is developing more slowly than anticipated,” said CEO Frank Calabria in a press release.
