Clifford Chance Advised on the Financing of a 20MW Green Hydrogen Project in Milford Haven, Wales
Clifford Chance Advised on the Financing of a 20MW Green Hydrogen Project in Milford Haven, Wales
Global law firm Clifford Chance has advised the Joint Structuring Banks, Lloyds and Societe Generale, on a flagship project financing for the development of a commercial-scale electrolytic green hydrogen project in Milford Haven, Wales. The project is being developed by MorGen Energy and benefits from revenue support under Hydrogen Allocation Round 1, the UK's first hydrogen contracts for difference scheme. It is among the first green hydrogen projects in the UK to secure financing from commercial lenders, providing a compelling precedent for the bankability of next-generation hydrogen infrastructure.
Construction activities have now commenced, with the plant expected to enter operation by early 2028. At full capacity, it will generate around 2,000 tonnes of low carbon hydrogen each year, providing a clean energy source for industrial heating, manufacturing processes and the wider decarbonisation of the Milford Haven port.
The firm advised on all aspects of the project financing, including due diligence regarding the planning, environmental and regulatory regime applicable for the hydrogen plant, grant funding from the Net Zero Hydrogen Fund and government support documentation relating to the new hydrogen production business model.
The Clifford Chance team was led by Bryony Theaker (Partner/ Energy and Infrastructure) and Russell Wells (Partner/ Energy and Infrastructure), with support from Hannah Collins (Senior Associate) and Josephine Stefani (Senior Associate), and Solene Kendem (Associate) and Seika Osafune (Associate). The cross-practice team included Edward Bretherton (Partner), Chin Seng Chew (Partner), Jemma Dick (Partner), Anne Drakeford (Partner), Adam Hedley (Partner) and Alis Pay (Partner), with Paula Mullin (Senior Associate) and Kate Mackintosh (Senior Associate), and Bogomil Kukovski (Associate), Hong Yang See (Associate) and Ben Stewart (Associate).
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