Global reinsurer SCOR said its support for the Hidrogenii plant in St Gabriel, Louisiana, reflects its broader strategy to promote a sustainable, resilient future while remaining “strongly committed” to advancing energy transition and embedding ESG principles in its underwriting and investments.
The Hidrogenii plant, which started commercial operations in April last year, is a 50/50 joint venture between chemical manufacturing company Olin Corporation and Plug Power.
“The Hidrogenii plant focuses on producing and delivering reliable, domestically sourced green hydrogen to serve growing demand across mobility, power, and industrial markets. One of the largest electrolytic hydrogen liquefaction facilities in North America, it can produce up to 15 metric tons of hydrogen per day,” SCOR explained.
The French firm said it remains strongly committed to advancing energy growth and transition, adding that the project, producing domestically sourced green hydrogen for mobility, power and industrial uses, underscores its broader strategy to support emerging clean energy technologies and drive a more sustainable future.
SCOR continued, “Our support for the Hidrogenii plant is a part of SCOR’s broader strategy to foster a sustainable and resilient future.
“Through our New Energy Practice, launched in 2023, we support the ongoing energy growth and transition needs of our clients, offering comprehensive insurance solutions for a wide range of low-carbon technologies such as wind farms, solar farms, carbon capture, and biofuels.
“We are grateful for the expertise and commitment of the brokers from Marsh on this transaction. As we continue to support projects like the Hidrogenii liquified hydrogen plant, SCOR remains committed to accelerating the energy transition.
“By providing end-to-end coverage and leveraging our global expertise, we ensure that our clients are protected at every stage of their energy transition journey. Together, we can build a more sustainable future.”
