Industrial policy impact
SoHyCal: We designed, built and now operate the SoHyCal project in California, which is based on 15 MW PV capacity a 9 MW electrolyzer to produce about 3.8 tons of green hydrogen per day. The recent development of the US IRA (Inflation Reduction Act) really made the intentions of the US government clear for all market participants. Obviously, the impact was very positive, especially regarding security of off-take commitments for our green hydrogen production. But we also see a more direct access to private funding for green hydrogen projects as a result of the IRA rules.
SoHyCal: One key learning we can definitely share from our experience with upcoming projects is to early on engage and establish contact with local politicians and regulatory bodies. Show them what your project can potentially offer for the region and see what incentives – which might not even be public – your project can get. Don't try to do everything by yourself, but rather be open for local support!