Baker McKenzie opines on Advanced Clean Energy Storage Project

Baker McKenzie opines on Advanced Clean Energy Storage Project

In the US Department of Energy's (DOE) $504.4 million loan commitment Global law firm, Baker McKenzie advised Advanced Clean Energy Storage LLC, Mitsubishi Power Americas, Inc. and Magnum Development, LLC. It is to develop the world's largest industrial green hydrogen facility in central Utah.

The loan highlights the Biden Administration and the DOE's commitment towards supporting the clean hydrogen sector, closed on June 3, 2022. Building the fundamental setup needed to arrange this zero-carbon energy storage source, it also helps create a worthwhile market for hydrogen and will make it accessible in the western United States and electrical grid.

James P. O'Brien, chair of Baker McKenzie's Global Projects Practice said, "In the United States and globally, supporting ACES Delta to reach financial closing on the DOE loan is part of the unique prospect to be involved in such a transformational energy transition project." "To the launch of this project is really exciting to see ACES Delta transform its apparition of hydrogen energy storage."

"With limited hydrogen projects taking place across the globe, being a part of such a leading project improves our legal insights and industry expertise for our team to continue to outshine in this space. Christopher Jones, head of Baker McKenzie's Hydrogen Group, added: It establishes our continued global leadership in the clean energy technology sector for the past 20 plus years."

The Baker McKenzie team led by Mr O'Brien and Stanislav Sirot, chair of the firm's Global Renewables Group, opines on the development, construction and project financing included Mark Tibberts, Matt Martin and Heiko Burow.

Baker McKenzie is at the forefront of market-leading deals in the renewable energy and clean technology sector. Our multidisciplinary global team helps energy producers, investors and users counterfeit their energy transition journey in an progressively complex regulatory environment, enabling them to transform, powerfully.

With more specialized lawyers in more places worldwide than any other law firms, Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience. We have over 200 projects lawyers in our clients' most important locations, including key financial centers and market-leading teams in emerging jurisdictions with more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia.

We help our clients for the entire life cycle of their most important transactional and development matters, including to structure, assess, develop, finance, sell and purchase a range of projects.

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