AES Shares Edge Higher Amid Government Funding for Hydrogen Hubs
October 16 2023 - 12:08PM
Dow Jones News
By Sabela Ojea
Shares of AES rose after the company said it is part of two
Regional Clean Hydrogen Hubs that are set to receive up to $2.4
billion in grant funding from the U.S. Department of Energy.
The shares were up 4.1% Monday at $13.70.
On Friday, the utility and power-generation company said it
would participate in the development and scaling of a California
renewable clean hydrogen energy systems hub that was allocated up
to $1.2 billion and the HyVelocity hub in the Gulf Coast of Texas
and Louisiana set to receive up to $1.2 billion.
Through those hubs, AES expects to secure funding for new
hydrogen projects, which it will own and operate in those regions,
along with associated renewables, the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 16, 2023 12:53 ET (16:53 GMT)
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