Department of Energy announced a $504 million loan guarantee to help finance the “Advanced Clean Energy Storage” project – one of its first loans since President Joe Biden revived the Obama-era program known for making loans to Tesla and Solyndra.
The clean energy hubs could feature solar photovoltaic systems, microgrids, geothermal energy, direct air capture, fossil-fueled power generation with carbon capture, utilization, sequestration, energy storage, pumped storage and compressed air, and advanced nuclear, DOE said.
The Advanced Clean Energy Storage project will combine 220 MW of alkaline electrolysis with two 4.5-million-barrel salt caverns to store clean hydrogen. The Advanced Clean Energy Storage project received a conditional commitment from LPO in April.
…collaboration in the ensuing months." "Covanta Europe appreciates the efforts of the broader team at Covanta and EQT for laying the groundwork for this technologically advanced platform, which is a key enabler of sustainable non-recyclable waste and materials processing in alignment with the waste hierarchy.
The Gem A-CAES Project is a full-scale Advanced Compressed Air Energy Storage (A-CAES) facility that is under active development. Goldman Sachs is investing $250 million to help the company build more than 1 GW/8.7GWh of its Advanced Compressed Air Energy Storage (A-CAES) projects in California and Australia.