While 95% of today’s hydrogen produced is derived from natural gas or other fossil fuels, developing technologies that use solar, wind and other renewable technologies to produce green hydrogen for large scale energy storage and consumption hold the promise of transforming the entire energy sector.
A recognized leader in the power, renewables and energy storage sectors, Orrick has helped clients bring many revolutionary technologies and new commercial and legal structures to market. This includes our work on the very first commercial scale wind and solar generation projects and more recently, the world’s largest battery energy storage facilities.
We are currently working with clients to assess and pursue hydrogen’s evolving role in the clean energy transition. Our multidisciplinary hydrogen task force stays abreast of this rapidly evolving market, its anticipated impact on the global economy, and the nuts-and-bolts details of the regulatory framework and transaction structures. We work closely with our corporate, environmental, regulatory, technology, tax and public policy attorneys to provide a full-service approach and creative, practical solutions.
We have advised a variety of participants in the emergent hydrogen market, including:
- a major international renewables developer in the development of a wind energy facility combined with green hydrogen production, storage and fuel cell facilities, including the PPA offtake contracts for such project which provide long-duration energy storage services.
- a large U.S. renewables developer in the co-development arrangements for a green hydrogen production facility (using wind energy for input) involving the use of hydrogen for transportation vehicles.
- a major international oil and gas company in a joint venture, co-development agreement and complex financing for a direct air capture facility, including advising on environmental and regulatory issues; and providing guidance on the potential structuring of hydrogen projects.
- a fuel cell manufacturer in (i) joint venture arrangements with hydrogen facility sponsors, (ii) tax equity investments in fuel cell projects and (iii) the preparation and filing of federal permit and related applications related to fuel cell and production methods.
- venture funds in the financing of fuel cell companies, including an Israeli company that distributes power supply and power backup solutions based on fuel cells and a Texas based company that developed a photocatalytic reactor designed for fuel cell vehicles and small-scale industrial applications.
- transportation sector clients, including a leading car manufacturer in the development of a hydrogen fuel cell-powered electric vehicle, and investors in the financing of fuel cell developers for aircraft.
- the U.S./Canadian energy infrastructure group on the sale of a 322 MW distributed solar and fuel cell portfolio.