NewQ1 2026 Clean Energy Deal Intelligence Report is live
FinancingAnnouncedJune 9, 2022

Mitsubishi Power + Magnum (ACES Delta) Hydrogen Storage

World's largest green hydrogen storage. $504.4M DOE loan close. 150 GWh-equivalent salt cavern H2 storage; 220 MW electrolyzers. Supplies IPP Renewed 840 MW H2-capable gas turbine plant. Chevron acquired majority stake (2023).

$504M

Deal Value

Hydrogen & Fuel Cells

Technology

UT

Location

Deal Details

Deal Type
Manufacturing Investment
Seller / Sponsor
Mitsubishi Power Americas + Magnum Development (ACES Delta JV)
Buyer / Financier
Mitsubishi Power Americas + Magnum Development (ACES Delta JV)
Deal Value
$504.4M DOE loan + $1B+ project
Stage
Construction
ISO/RTO
WECC

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