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Plug Power to buy renewable energy to power green hydrogen production facility
- 4 years ago (2020-09-25)
- David Flin
Plug Power and Brookfield Renewable have entered into an agreement for Plug Power to buy renewable electricity from Brookfield Renewable to facilitate Plug Power’s production of approximately 10 tons of 100 per cent green liquid hydrogen per day. The firms are in discussions to establish a broader relationship to pursue additional green hydrogen development opportunities.
E-World 2025
This agreement advances Plug Power’s green hydrogen generation strategy, including its goal for over 50 per cent of its hydrogen supplies to be produced from renewable sources by 2024.
Plug Power’s planned green hydrogen production facility, which will be fully powered by electricity from Brookfield Renewable, will be fully will be one of the first green hydrogen facilities in North America and is anticipated to be a part of a future network spanning the continent, helping to decarbonise the electricity, transportation, and logistics sectors. According to the consultants McKinsey & Company, the hydrogen economy in North America could reach $2.5 trillion by 2050.
Andy Marsh, CEO of Plug Power, said: “We are excited to be partnering with Brookfield Renewable, and anticipate opportunities to build on this relationship in the coming years. This marks important progress in our steady march to achieve our overall hydrogen strategy of building green liquid hydrogen generation facilities with strategic partners in the US and globally thereafter.”