Apex Clean Energy (Apex), funds managed by the Infrastructure and Power strategy of Ares Management Corporation (Ares), EPIC Midstream Holdings (EPIC), and the Port of Corpus Christi Authority entered into a memorandum of understanding (MOU) to explore the development of a green hydrogen production, storage, transportation, and export operation at the Port of Corpus Christi.
The project would produce green hydrogen and other green fuels in volumes not yet seen in the US, with additional scale possible by decade’s end. Apex expects to use its portfolio of wind and solar projects currently in development in Texas to power facilities producing green hydrogen and derivative green fuels products.
In addition, EPIC will consider leveraging its pipeline construction to accelerate the development of a new, dedicated green fuels pipeline. The project would also try to develop existing and new storage, processing, and export infrastructure.
Ares and PCCA previously executed a separate memorandum of understanding in May 2021, with the intention of developing renewable energy infrastructure on PCCA-owned property to support the production of green hydrogen and optionality to provide renewable power directly to the port and its customers.
The project demonstrates the type of innovative, broad, and collaborative approach across industries and stakeholders that we believe can deliver novel energy solutions that help accelerate the transition to a low-carbon economy and combat climate change
said Keith Derman, Partner and Co-Head of Ares Infrastructure and Power.
Mark Goodwin, Apex Clean Energy President and CEO, added that this project seeks to generate and deliver green hydrogen and other clean fuels where they are needed most.
