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2020-09-04 11:55:00

U.S. HYDROGEN INVESTMENT $3 BLN

U.S. HYDROGEN INVESTMENT $3 BLN

BLOOMBERG QUINTSeptember 02 2020 - Three power plants planned in New York, Virginia and Ohio will test whether hydrogen can one day replace natural gas in electric generation. Power producers Danskammer Energy LLC, Balico LLC and EmberClear are paying Mitsubishi Power Americas Inc. more than $3 billion for the facilities, which will collectively generate 3,284 megawatts of electricity. While the plants will initially run on natural gas alone, they'll eventually shift to burning green hydrogen produced and stored on-site. They're designed to make it easier to ramp up hydrogen use as production increases, said Chief Executive Officer Paul Browning.

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