Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTHy Stor Energy LP has chosen French electrical equipment maker Schneider Electric (EPA:SU) as the main automation, digital energy management and safety solutions contractor for its Mississippi Clean Hydrogen Hub (MCHH) and broader development platform in the country.
The companies have signed a memorandum of understanding (MoU) under which the French firm will provide its automation and safety solutions, Aveva process operation and AI optimisation software, weather analysis, predictive operations and digital energy management solutions, along with commissioning and operational analytical tools, according to a recent statement.
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“Innovating both the physical and digital operation of renewable and storage assets is a critical part of the energy transition,” Hy Stor Energy’s CEO Laura Luce said.
In 2022, Hy Stor Energy became the first pledge member in North America to commit to the global GH2 Green Hydrogen Standard and to pledge to produce the green molecule using 100% or near 100% renewable energy.
The MCHH project is expected to be the largest zero-carbon, off-grid hydrogen production and salt cavern storage hub in the US, according to Hy Stor. It will serve business, industrial, transportation and utility sectors across the state, neighbouring states and the entire Eastern US.
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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