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Alternative Assets  + Real Assets  |  March 5, 2024
Chevron Launches Solar-Powered Hydrogen Plant in California
Joe Palmisano
By: Joe Palmisano

Chevron Launches Solar-Powered Hydrogen Plant

Chevron New Energies, a division of Chevron U.S.A. Inc., announced it is developing a 5-megawatt hydrogen production project in California’s Central Valley. 

The project aims to create lower carbon energy by utilizing solar power, land and non-potable produced water from Chevron’s existing assets at the Lost Hills oil field in Kern County. 

The company says this low carbon intensity (LCI) electrolytic hydrogen will be produced through electrolysis. The facility is designed to produce two tons of LCI hydrogen daily. 

“Chevron already offers lower carbon fuels like sustainable aviation fuel, renewable diesel and others, and this project is expected to expand the portfolio of solutions Chevron could supply to the region,” said Austin Knight, vice president for hydrogen at Chevron New Energies. 

Lost Hills represents the first Chevron-only commercial electrolytic hydrogen project. Development is expected to span multiple years. 

Pictured: 220-acre solar field at Lost Hills 

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Chevron New Energies

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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