Origin Energy has abandoned its hydrogen venture in a major blow to a key element of the Labor government’s decarbonisation strategy, as the economics of clean hydrogen projects increasingly fail to stack up.
The ASX-listed electricity and gas giant said it would not proceed with its investment in the NSW Hunter Valley Hydrogen Hub, one of the most advanced clean hydrogen developments in the country and one that has been shortlisted for funding as part of Labor’s $2 billion Hydrogen Headstart scheme.
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
