BP Plc (NYSE: BP) has secured funding to advance the development of a groundbreaking green hydrogen plant at its Lingen refinery, marking the first fully owned and operated green hydrogen facility by the U.K. oil major. The project is poised to significantly contribute to Germany's ambitious energy transition plans by reducing the reliance on natural gas and coal. The innovative hydrogen plant will utilize a 100-MW electrolyzer capable of producing 10-11 kilotons of green hydrogen annually. This hydrogen will be generated through the electrolysis of water using renewable electricity, primarily sourced through an offshore wind power purchase agreement. The green hydrogen produced will be utilized at BP's Lingen refinery and supplied to local industries, including steel and chemical producers, aiding in the decarbonization of their production processes. The project, which was initially outlined in 2020 in collaboration with Orsted A/S, has now been expanded to a 100-MW capacity. Although Orsted has since withdrawn, BP has proceeded with the development, receiving vital funding from the Lower Saxony regional government and Germany's Economy Ministry. This support is part of the European Union's IPCEI Hy2Infra initiative, aimed at fostering the hydrogen economy ...