BP and Iberdrola have approved the construction of a 25 MW green hydrogen project at BP's Castellón refinery in Australia, set to be operational by the second half of 2026. The initiative, undertaken through their joint venture Castellón Green Hydrogen S.L., secured €15 million in funding from the Spanish Recovery, Transformation and Resilience Plan. This project aligns with BP's commitment to investing in high-value projects, especially in the hydrogen sector. BP aims to advance hydrogen projects globally to address climate change, with a particular focus on hard-to-abate sectors like heavy manufacturing and minerals processing. The company is working on significant green hydrogen developments in Australia, including the Australian Renewable Energy Hub and the H2Kwinana hydrogen hub in Perth. Despite challenges faced by companies like Origin Energy and Woodside in the Australian hydrogen market, BP remains optimistic about the sector's growth potential. The Australian government's support and incentives for hydrogen projects are crucial for attracting private investment and driving the industry's development. While Fortescue has adjusted its green hydrogen production targets, it continues to prioritize commercializing the technology and plans to undertake multiple green hydrogen projects globally. The broader hydrogen industry in Australia is making progress, with over 50 companies investing in hydrogen-related projects, demonstrating continued interest and support despite challenges.