Green Hydrogen Facility Gets DOE Funding

The U.S. Department of Energy (DOE) has pledged $504.4 million in conditional loan dollars for development of the country’s first large-scale green hydrogen project. 

From Recharge

The project—Advanced Clean Energy Storage (ACES), a partnership between Mitsubishi Power Americas and Magnum Development—will be built in Utah and use 220MW of wind- and solar-powered electrolysers to produce 36,500 tonnes of renewable H2 per year.

The complex will store the hydrogen in two natural salt caverns and will supply H2 to the Intermountain Power Agency's IPP Renewed Project. One of many planned green hydrogen facilities, this is expected to be the largest in the U.S. and one of the largest in the world. 

The project and financing are still in due diligence and underwriting, with the DOE needing to document project milestones to meet overall project success while protecting taxpayer interests.
Canary Media interviewed Jigar Shah, director of the Department of Energy’s Loan Programs Office, about why the facility was an attractive applicant.