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Green Hydrogen: Plug Power Builds Largest Production Facility On US West Coast

Latham, USA - Plug Power is expanding its green hydrogen ecosystem to the US West Coast with the construction of a new state-of-the-art production facility in Fresno County, California.

As the largest green hydrogen production facility on the West Coast, the turnkey hydrogen solutions specialist's plant will produce 30 metric tons of liquid green hydrogen daily, serving customers from San Diego to Vancouver. The plant will use a new 300-megawatt (MW) solar farm. The electricity will power 120 megawatts of Plug Power’s PEM electrolysers, which split water into hydrogen and oxygen via electrolysis. Pending environmental and construction permitting approvals, the plant will break ground in early 2023 and complete commissioning in early 2024.

The California plant joins Plug Power's growing national network, with plants in New York, Tennessee and Georgia. By 2025, the plants are expected to supply 500 tons of liquid green hydrogen per day. By 2028, Plug Power aims to expand global capacity to 1,000 tons of hydrogen per day. When fully built, the network of plants in the U.S. will offer transportation fuel to customers that is price-competitive with diesel.

After last week's strong performance, Plug Power's share price performance has weakened in the current trading week. Currently, the RENIXX Group's stock is up 3.1 percent for the week at 23.11 euros (Sept. 23, 2021, 4:04 p.m., Stuttgart Stock Exchange). Compared with the price at the turn of the year, this represents a drop of 13.5 percent.



Source: IWR Online, 23 Sep 2021