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
- Source
- Mitsubishi Power
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