The number of countries with polices that directly support investment in hydrogen technologies is increasing, power sector remains the primary target. As more renewables penetrate the grid systems it creates an unprecedented opportunity to convert low-cost excess renewable power into hydrogen, a valuable commodity.
The natural gas is a bridge fuel enabling a new wave of cleaner power plants to replace 30,000 MW of planned decommissioning of legacy coal-based power plants, affecting over 30 million households. Our projects help reduce CO2 emissions by 65% compared to the retiring coal plant (6.4 million tons annually) the day we begin operations. Over time, our projects integrate 100% renewable hydrogen power and storage capabilities to achieve zero carbon emissions. It is an unprecedented opportunity to create jobs and build communities.
Both MISO and PJM are currently served by aging fleets of at-risk coal-fired and nuclear generating stations. Despite 20,200 MW of coal-fired retirements since 2012 in PJM and another 15,000 MW of primarily coal and nuclear capacity retirements announced/expected through 2020, further retirements represent an additional upside to power and capacity price projections.
