Supported a US Utility in standing up a new electrolysis-based hydrogen project, including building the business case, developing the partnership strategy and designing the commercial construct
Situation
A US Utility was pursuing a greenfield electrolysis project opportunity to demonstrate the potential of hydrogen in its long-term decarbonization strategy and to build a commercial hydrogen production business
The client was looking for advice and support for how best to successfully stand up the new project and de-risk the investment opportunity
The client was also looking for support in securing strategic partnerships and additional funding from the Federal government and third-party investors
Approach
Designed the program architecture for standing up the new hydrogen project opportunity, underpinned by multiple work tracks
Technical and engineering assessment
Project economic drivers and financial returns modelling
Commercial construct design for de-risking the client’s investment
Partnership strategy and engagement process with potential third-party investors and off-takers
Played the PMO role in ensuring project coordination, rigor, and pace of progress, while directly supporting each of the specific work tracks with expert capabilities
Managed internal stakeholder engagement to ensure transparency of progress and alignment building to meet key milestones
Impact
Attracted and prioritized key strategic partners as project collaborators and co-investors, enabling the majority of the required capital to be raised from partners
Put in place a commercial model to de-risk the client’s own investment while maintaining overall control, including for capturing the upside from potential project scale up opportunities
Used the learnings from the hydrogen project to help inform the larger enterprise-level hydrogen strategy and clarify the trade-offs around alternative participation pathways
