Hybont Passes Initial Due Diligence on Shortlisted Projects
In a significant stride towards bolstering the UK’s renewable energy and hydrogen landscape, HyBont, Marubeni Europower’s green hydrogen project in Bridgend, has successfully passed the initial due diligence process in the latest round of allocations for the UK Government’s Net Zero Hydrogen Fund, which supports the development of green hydrogen projects in the UK.
HyBont incorporates a green hydrogen production and refuelling facility, partially powered by a dedicated solar farm and onshore wind farm through a sleeved PPA, which would produce and store low carbon energy to meet the demands of the local area. The green hydrogen produced will be used as fuel for the transportation sector, such as fuel cell vehicles, and is being assessed as the source for a district heating system, contributing to decarbonisation in Bridgend.
In response to this announcement George Dodd, Senior Vice President of Marubeni Europower, said:
“This is fantastic news for the project and while we celebrate this important milestone, much work lies ahead. We are unwavering in our commitment to steer the HyBont project to fruition and help shape a sustainable future for all.”
Seventeen projects across England, Scotland and Wales, totalling 262MW, were invited to negotiations, alongside continued due diligence.
Government is working to ensure the first electrolytic allocation round (HAR1) concludes before the end of this year, with award contracts totalling up to 250MW of capacity, subject to affordability and value for money. It aims for contracts to be awarded in Q4 2023, with first projects becoming operational in 2025.
Operating for over 50 years in Europe, Marubeni is a leading investor in renewable energy projects. We acquire, develop and operate Independent Power Producer (IPP) Projects across Europe, the Middle East and Africa.