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Green Hydrogen Gets Boost in the U.S. With $4 Billion Plant

December 8, 2022

Industrial-gas manufacturer Air Products APD 1.12%increase; green up pointing triangle and Chemicals Inc. and power company AES Corp. AES 3.43%increase; green up pointing triangle are planning to build a $4 billion renewable-powered hydrogen factory in North Texas, the latest large investment in green energy since Congress passed significant tax credits for such projects.

The factory, which is slated to start operations in 2027 and will be built on the site of a retired coal plant, will use solar and wind power to manufacture the hydrogen, the companies said Thursday. It will be able to produce more than 73,000 metric tons of hydrogen a year, making it the largest such facility in the U.S. and among the top 10 worldwide, according to data from the Paris-based International Energy Agency.

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