Duke Energy (DUK.N) announced its plans on Friday to embark on an innovative venture aimed at harnessing clean energy in Florida through an all-encompassing approach encompassing production, storage, and utilization of 100% green hydrogen.
This ambitious initiative is the result of a strategic partnership between Duke Energy, renowned construction management and consulting firm Sargent and Lundy, and General Electric’s (GE.N) GE Vernova division.
It is slated to be stationed at Duke’s pre-existing facilities in DeBary, as disclosed in a company statement.
Green hydrogen, a product of water splitting through electrolysis driven by renewable energy sources, is poised to revolutionize various sectors, particularly transportation, as part of the ongoing global efforts to curb carbon emissions.
The groundwork for the demonstration project in DeBary is scheduled to commence later this year, with an estimated timeline of approximately one year for completion, according to Duke Energy.
The project’s inception will draw upon the 74.5-megawatt (MW) DeBary solar plant that is already in operation, generating clean energy for the purpose of powering two 1-MW electrolyzer units integral to the green hydrogen production process.
Duke Energy anticipates that the new system will be fully operational and integrated into its infrastructure by the year 2024.
This forward-thinking endeavor by Duke Energy exemplifies a dedicated commitment to sustainable energy solutions and the pursuit of a cleaner, greener future.
By leveraging cutting-edge technology and strategic partnerships, the company is poised to significantly contribute to the transition towards renewable energy sources and the reduction of carbon emissions, ultimately benefiting not only the state of Florida but also the broader global ecosystem.
As the project takes shape over the coming years, it will serve as a testament to the potential of green hydrogen as a catalyst for industry decarbonization and a more sustainable tomorrow.