AES Shares Edge Higher Amid Government Funding for Hydrogen Hubs
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom