AES Corporation $AES stock is trading in an uptrend channel as of December 12, 2022. Dark pool trades occurred in the stock in December 2022. The stock is in a technical strong uptrend.
Unusual Dark Pool Trading In $AES Stock
An unusually large dark pool trade occurred in $AES stock on December 9, 2022, after the company announced its partnership to build the first mega-scale green hydrogen production facility in Texas. The dark pool trade was valued at $5.4 million. We think the dark pool trade was a buy order because $AES stock rose following the trade hitting the tape.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
Air Products and AES Announce Plans to Invest $4 Billion to Build The Largest Mega-scale Green Hydrogen Production Facility In the US
A green hydrogen production facility will be built, owned, and run in Wilbarger County, Texas, according to plans made public on December 8 by Air Products and The AES Corporation. The investment will total about $4 billion. This massive renewable energy to hydrogen project has an electrolyzer capacity that can produce over 200 metric tons of green hydrogen per day, along with approximately 1.4 gigawatt of wind and solar power generation, making it the largest green hydrogen facility in the United States.
The facility, whose first commercial operations are expected to start in 2027, will supply the rising demand for fuels with zero carbon intensity from the mobility market and other industrial markets. It will produce an enormous amount of entirely clean energy, and if all the the green hydrogen were used in the market for heavy-duty trucks, it would result in the annual elimination of more than 1.6 million metric tons of carbon dioxide emissions due to diesel use in heavy-duty trucks. Over the course of the project, it is anticipated to prevent more than 50 million metric tons of CO2 emissions, which is the same as preventing emissions from nearly five billion gallons of diesel fuel.
In a 30-year agreement, Air Products will be the sole off-taker and marketer of the green hydrogen, and AES and Air Products will jointly and equally own the renewable energy and electrolyzer assets.
More than 1,300 construction jobs, 115 permanent operations jobs, 200 jobs in transportation and distribution, and other jobs would be generated by the project. Along with maintaining Texas’ position as a leader in the energy sector, it is anticipated to bring the state tax benefits totaling $500 million over the course of the project’s lifetime.
“We are very pleased to announce this exciting joint venture with AES, which is one of the leading renewable energy companies in America. The new facility in Texas will be, by far, the largest mega-scale clean hydrogen production facility in the U.S. to use wind and sun as energy sources. We have been working on the development of this project with AES for many years and it will be competitive on a world-scale while bringing significant tax, job and energy security benefits to Texas. We are excited to move forward and make clean green hydrogen available to U.S. customers in the near future,” said Seifi Ghasemi, Air Products’ Chairman, President and Chief Executive Officer.
AES President and Chief Executive Officer Andrés Gluski stated, “This project will capitalize on AES’ position as one of the nation’s largest renewable energy developers and its global leadership in innovations such as energy storage systems and supplying around the clock clean energy to data centers. We are very pleased to partner with the world leader in hydrogen, Air Products, for this first of its kind mega-scale green hydrogen facility in the United States. We will build more than 1 GW of new solar and wind facilities to provide zero carbon energy for electrolysis and related production facilities. AES believes that green hydrogen has a key role to play in decarbonizing transportation and accelerating the future of energy.”
Over the next ten years, the demand for green hydrogen for transportation and industrial uses is anticipated to increase substantially nationwide. The contribution of green hydrogen to the net-zero goals stated by numerous states and significant corporations supports the increase in demand. The project depends on depends on getting local approvals, as well as federal, state, and local incentives.