$504 loan guarantee for hydrogen storage

The Department of Energy’s (DOE’s) first official loan guarantee for a new clean energy technology project since 2014 will go to the Advanced Clean Energy Storage 1 project in Utah—one of the world’s largest renewable hydrogen energy projects.

The DOE on June 8 announced it closed on the $504.4 million loan guarantee for the first phase of the Advanced Clean Energy Storage project. The massive undertaking by ACES Delta, a joint venture comprising Magnum Development, Mitsubishi Power, and Haddington Ventures, seeks to create a new pathway for decarbonization of the Western U.S. grid. The agency offered the project a conditional loan guarantee commitment in April, contingent on several factors, including securing permits and financing for the $1 billion project.

The ACES Delta project envisions producing up to 100 metric tonnes per day of hydrogen from water and renewable energy sources using a 220-MW alkaline electrolyzer bank manufactured by Norwegian firm HydrogenPro—one of the largest deployments of its type to date. ACES Delta will store that hydrogen in two gigantic solution-mined caverns sited in the only salt dome in the Western U.S, each of which can store up to 150 GWh of energy.




Interesting…but didn’t you leave an “M” out of your subject line? :wink: