Us Doe Closes $504.4 Million Loan To Advanced Clean Energy Storage Project For Hydrogen Production And Storage

Mitsubishi Power Americas and Magnum Development today announced the closing of a $504.4 million loan guarantee from U.S. Department of Energy’s (DOE) Loan Programs Office to Advanced Clean Energy Storage I, LLC to develop the world’s largest industrial green hydrogen facility in central Utah. DOE’s loan is its first in more than ten years for a renewable energy project.