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Plug Power and Brookfield Renewable Push to Build U.S. Hydrogen Production Facility

Latham, USA - Green hydrogen is seen as an essential component of a carbon-free economy and critical to decarbonizing the transportation and logistics sectors, as well as energy-intensive industries such as steelmaking.

Plug Power, the fuel cell and hydrogen specialist listed on the RENIXX World renewable stock index, is pursuing a plan to build a network of hydrogen production facilities and has announced another important milestone in this regard.

Further step in the development of a U.S. green hydrogen network

Fuel cell manufacturer Plug Power and renewable energy generation operator Brookfield Renewable Partners have announced plans to build a green hydrogen production facility. The plant will be located along the Susquehanna River in south-central Pennsylvania. The electricity needed to electrolyze the hydrogen will be sourced from Brookfield Renewable's Holtwood hydroelectric plant.

The plant is expected to be online by late 2022, with construction slated to begin by in the first quarter of 2022. Once operational, the plant is projected to produce approximately 15 metric-tons of 100% emissions-free liquid hydrogen per day. The green hydrogen from the new production facility is expected to support the decarbonization of the broader transportation and logistics industries in the Northeast and the so-called Mid-Atlantic states (including New York, New Jersey and Pennsylvania).

“This is another step in our quest to build the green hydrogen economy in the USA and globally thereafter," said Plug Power CEO Andy Marsh. As one of the first commercial-scale green hydrogen plants in North America, the facility represents a significant milestone in Plug Power's plan to establish the first North American green hydrogen network.

Construction of North America's largest hydrogen production facility on the agenda

Plug Power also recently announced the construction of a $290 million green hydrogen production facility and substation at the Western New York Science, Technology and Advanced Manufacturing Park. As North America's largest green hydrogen production facility, the plant is expected to produce 45 metric tons of green liquid hydrogen per day to serve the Northeast region. Through a network of facilities, Plug Power aims to supply 500 tons of hydrogen daily globally by 2025 and increase volumes to 1,000 tons daily by 2028. The plant at STAMP Park will use Plug Power's PEM electrolysers with a total capacity of 120 megawatts (MW) to produce the hydrogen using hydropower. Together with the company's existing plant in Tennessee, the new facilities form the initial links in the North American green hydrogen production network.

Plug Power share price under pressure in March 2021

Plug Power's stock price went down about 24 percent in March. Currently, the share stands at 31.70 euros (April 1, 2021, 09:08 a.m., Stuttgart Stock Exchange). Compared with the previous high for the year of 61.88 euros on January 26, 2021, this is a drop of nearly 50 percent. Compared with the price at the turn of the year, the Plug Power share is currently up 19 percent.

Source: IWR Online, 01 Apr 2021