In response to the growing demand for clean fuel, Air Products and the renewable energy company AES Corp. will invest roughly $4 billion to construct the largest green hydrogen facility in the United States.
The Texas project, which will be able to produce over 200 metric tons of green hydrogen per day, is expected to begin operating commercially by 2027. The investment will be split equally between the two businesses, according to an AES representative.
Under a 30-year agreement, Air Products, which had sales of $12.7 billion in fiscal 2022, will be the sole purchaser and marketer of the plant’s green hydrogen.
The electrolyzers at the plant that help break water into hydrogen and oxygen will be owned equally by AES and Air Products, they noted.
The need for green hydrogen, which is produced by electrolysis plants using renewable energy sources such as offshore wind and solar, has increased.
AES Chief Executive Officer Andrés Gluski stated, “We will construct more than 1 GW (Gigawatt) of new solar and wind facilities to supply zero carbon electricity for electrolysis and related industrial facilities.
