(Plug) Plug Power has signed a 30-year concession deal to build a 35-tons-per-day green hydrogen generation facility at Port of Antwerp-Bruges.
The plant at the Belgian port will be the second largest in Europe. Plug will erect a 100-megawatt green hydrogen plant on 28 acres of land leased under the deal.
Following the deal, Plug will produce about 12,500 tons each year of liquid and gaseous green hydrogen for the European market.
Plug says that the construction of the hydrogen plant will start around late 2023, with initial production coming in late 2024. The plant will be commissioned in 2025.
Plug CEO Andy Marsh says that the plant will deliver much-needed natively generated green hydrogen. Marsh adds that the project’s demand has been heightened by the ongoing energy crisis due to geopolitical tensions in Europe.
PLUG: NASDAQ is up +2.65%.
