HOUSTON–(BUSINESS WIRE)–Haddington Ventures, LLC has formed Haddington ESP I, LP to provide construction equity for projects developed by the Advanced Clean Energy Storage Joint Venture (ACES Delta, LLC), which will be the largest green hydrogen platform in the world upon completion. With this equity funding, construction can begin in June 2022, and hydrogen hub operations are scheduled to commence in 2025.
The investors in Haddington ESP are Alberta Investment Management Corporation (AIMCo), GIC, Manulife Financial Corporation (Manulife) and Ontario Teachers’ Pension Plan Board (Ontario Teachers’). In addition to the investors’ initial $650 million equity commitment, they have additional rights to increase their collective investment to $1.5 billion.
“This is a pivotal investment for western states seeking to meet their aggressive decarbonization goals,”…