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.…

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