$504 million loan guarantee granted world’s largest renewable hydrogen energy project
HydrogenPro AS – $504 million loan guarantee granted world’s largest renewable hydrogen energy project
The Department of Energy (DOE) has granted a $504.4 million loan guarantee for a project for the storage of clean energy for which HydrogenPro will be delivering 220 MW electrolyser systems.
HydrogenPro delivers electrolyser systems for the entire project.
The project aims to create a new pathway for decarbonising the Western U.S. grid. This will be done by producing up to 100 metric tonnes of hydrogen per day from water and renewable energy sources using HydrogenPro’s 220-MW alkaline electrolyser systems.
Interim CEO of HydrogenPro, Richard Espeseth, states that being part of a project of such magnitude is motivating and represents a great responsibility: “This large loan guarantee represents an important milestone for the project and HydrogenPro. This agreement is the largest electrolyser order ever recorded. Thus, we are proud that HydrogenPro will play an important role in a pioneer project of such scale”.
The worldwide installed base of electrolysers at the end of 2020 was 250 MW. This project alone will nearly double worldwide capacity, with 220 MW installed at the site.