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Released September 15, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--As it continues to advance its low-carbon efforts, Chevron Corporation (NYSE:CVX) (San Ramon, California) recently announced it acquired a majority stake in the Advanced Clean Energy Storage (ACES) clean hydrogen hub in Utah. Chevron has said it plans to invest $10 billion in low-carbon projects through 2028, including those involving hydrogen, renewable fuels, and carbon capture and storage (CCS).
Through its Chevron New Energies division, Chevron acquired a majority interest in ACES Delta LLC, a joint venture between Magnum Development LLC (Holladay, Utah) and Mitsubishi Power Americas Incorporated (Lake Mary, Florida), for an undisclosed amount.
The ACES project plans to convert renewable energy into green hydrogen and will use two underground salt caverns for "seasonal, dispatchable storage of the energy," according to a Chevron press release.
Construction of the caverns and the green hydrogen plant are underway. The latter is expected to produce 100 metric tons per day from renewable energy using electrolysis, with commercial-scale operations expected in mid-2025. Subscribers to Industrial Info's Terminals, Chemical Processing and Power industries can click here for a full list of related project reports.
Earlier this year, it was announced the project received a $504.4 million loan guarantee from the U.S. Department of Energy (DOE). According to the agency's website, it believes the project "may contribute to grid stabilization and reduction of curtailment of renewable energy by using hydrogen to provide long-term storage."
The caverns sit adjacent to the Intermountain Power Agency's (IPA) (South Jordan, Utah) Intermountain Power Plant near Delta, where it is installing 840 megawatts (MW) of combustion turbine-generator sets that will be designed to utilize 30% hydrogen as fuel at startup and are planned to transition to 100% hydrogen by 2045. The new units will be used to replace the existing coal-fired units once the plant is retired. The IPP Renewed project kicked off in 2021 and is expected to be completed in mid-2025. Subscribers to Industrial Info's GMI Power Project Database can click here for more details.
"As we continue to pursue lower carbon energy solutions, we are excited to move forward with the Advanced Clean Energy Storage hydrogen project," said Austin Knight, vice president, Hydrogen, Chevron New Energies, in the press release.
One of the company's efforts in that pursuit is the $950 million upgrade/expansion of its Geismar Renewable Diesel plant in Louisiana. The project, which is expected to wrap up in the fourth quarter, will increase the plant's capacity from 90 million gallons to 340 million gallons per year. Subscribers to the GMI Alternative Fuels Project Database can click here for the project report.
In terms of carbon capture and storage, Chevron is developing a CCS project at its Kern River cogeneration plant in Kern County, California, which would involve installing post-combustion capture equipment that would capture up to 300,000 metric tons of carbon dioxide (CO2) per year and then storing it underground. The project is in the late planning stage. Click here to read more information.
Another CCS effort from Chevron comes in the form of its operatorship of, and 50% interest in, the Bayou Bend carbon capture and storage (CCS) project along the Gulf Coast in southeast Texas--which includes onshore and offshore portions.
For more information on the Bayou Bend project, see Industrial Info's August 29, 2023, article - Equinor Acquires 25% Stake in Texas CCS Project.
Subscribers to Industrial Info's GMI Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Through its Chevron New Energies division, Chevron acquired a majority interest in ACES Delta LLC, a joint venture between Magnum Development LLC (Holladay, Utah) and Mitsubishi Power Americas Incorporated (Lake Mary, Florida), for an undisclosed amount.
The ACES project plans to convert renewable energy into green hydrogen and will use two underground salt caverns for "seasonal, dispatchable storage of the energy," according to a Chevron press release.
Construction of the caverns and the green hydrogen plant are underway. The latter is expected to produce 100 metric tons per day from renewable energy using electrolysis, with commercial-scale operations expected in mid-2025. Subscribers to Industrial Info's Terminals, Chemical Processing and Power industries can click here for a full list of related project reports.
Earlier this year, it was announced the project received a $504.4 million loan guarantee from the U.S. Department of Energy (DOE). According to the agency's website, it believes the project "may contribute to grid stabilization and reduction of curtailment of renewable energy by using hydrogen to provide long-term storage."
The caverns sit adjacent to the Intermountain Power Agency's (IPA) (South Jordan, Utah) Intermountain Power Plant near Delta, where it is installing 840 megawatts (MW) of combustion turbine-generator sets that will be designed to utilize 30% hydrogen as fuel at startup and are planned to transition to 100% hydrogen by 2045. The new units will be used to replace the existing coal-fired units once the plant is retired. The IPP Renewed project kicked off in 2021 and is expected to be completed in mid-2025. Subscribers to Industrial Info's GMI Power Project Database can click here for more details.
"As we continue to pursue lower carbon energy solutions, we are excited to move forward with the Advanced Clean Energy Storage hydrogen project," said Austin Knight, vice president, Hydrogen, Chevron New Energies, in the press release.
One of the company's efforts in that pursuit is the $950 million upgrade/expansion of its Geismar Renewable Diesel plant in Louisiana. The project, which is expected to wrap up in the fourth quarter, will increase the plant's capacity from 90 million gallons to 340 million gallons per year. Subscribers to the GMI Alternative Fuels Project Database can click here for the project report.
In terms of carbon capture and storage, Chevron is developing a CCS project at its Kern River cogeneration plant in Kern County, California, which would involve installing post-combustion capture equipment that would capture up to 300,000 metric tons of carbon dioxide (CO2) per year and then storing it underground. The project is in the late planning stage. Click here to read more information.
Another CCS effort from Chevron comes in the form of its operatorship of, and 50% interest in, the Bayou Bend carbon capture and storage (CCS) project along the Gulf Coast in southeast Texas--which includes onshore and offshore portions.
For more information on the Bayou Bend project, see Industrial Info's August 29, 2023, article - Equinor Acquires 25% Stake in Texas CCS Project.
Subscribers to Industrial Info's GMI Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
