The largest clean storage facility in the world will create jobs, deploy clean energy, and replace a retiring coal-fired power plant. June 10, 2022 Anne FischerThe US Department of Energy (DOE) closed on a $504.4 million loan guarantee to Mitsubishi Power Americas and Magnum Development for the Advanced Clean Energy Storage I project, the world’s largest industrial green hydrogen facility. The project, which is located in Millard County, Utah, was announced in 2019 and is currently in its final stages of debt and equity closing.The loan guarantee is the first for a new clean energy technology project from DOE’s Loan Programs Office (LPO) since 2014, and it will help finance construction of the facility. The project is expected to create up to 425 jobs and will advance President Biden’s goal of net zero emissions by 2050 through clean energy deployment, as well as replacing a…
Clean hydrogen and energy storage project in Utah receives $504 million loan guarantee from DOE – pv magazine USA
