Orsted Walks Away From Green Hydrogen Project Citing High Costs

Germany’s Heide oil refinery and its partner Orsted A/S have shelved plans for a green hydrogen plant due to increased investment costs and associated economic risks.

This is at least the second such project Orsted has dropped in recent months, after deciding not to proceed with an electrolyzer at the Humber refinery in the UK. The Danish company recently announced a $4 billion writedown in connection with abandoned wind projects.

“A project must be economically viable, and this was unfortunately not the case in this instance,” Joerg Kubitza, managing director of Orsted in Germany, said in a statement about the ...