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. However, it may take decades for hydrogen technologies to achieve economic viability.
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.
ERCOT, MISO and PJM are currently served by aging fleets of at-risk coal-fired and nuclear generating stations. By the end of this decade, more than 200GW of the 318GW of peak coal-fired power will have been retired, based on current announcements. Additionally, there are already 30GW of coal-fired retirements planned for 2031 through 2040 in PJM. ERCOT and MISO are following a similar path.
