Mitsubishi Power and Magnum Development announced the launch of the Advanced Clean Energy Storage project in central Utah. In the world’s largest project of its kind, it will initially develop 1,000 MW/100,000 MWh of 100 percent green hydrogen storage.
Start of project development
KEY SUCCESS FACTORS
PROJECT DEVELOPMENT PHASE
- Political backing and buy-in
Evaluating hydrogen on equal footing as other energy storage and clean energy technologies
- Experienced staff
- Local public acceptance
- Stakeholder cooperation
COMMERCIAL AND FINANCING PHASE
- Putting a de-risking framework in place
- Securing customer commitments to de-risk the financial model
N.A.: Not available. This is possible due to two reasons: a) the Hydrogen Valley chose to not publicly display the data or b) the Hydrogen Valley did not answer the specific question in the associated survey.