Plug Power Secures 2GW Electrolyzers for $5.5B Uzbekistan Green Hydrogen Project

Plug Power has secured a 2 gigawatt electrolyzer deal as part of a $5.5 billion green chemical production facility in Uzbekistan, in partnership with Allied Green Ammonia (AGA) and backed by the Uzbek government. The facility aims to produce sustainable aviation fuel, green urea, and green diesel using 4GW of renewable energy and biomass, marking a significant step in global decarbonization efforts. This deal expands Plug Power and AGA's global partnership to 5GW, including a prior 3GW electrolyzer commitment for a green ammonia plant in Australia, with final investment decisions for both projects expected by late 2025. Plug Power’s CEO Andy Marsh and AGA’s Managing Director Alfred Benedict emphasized the strong confidence in Plug's electrolyzer technology and its role in accelerating the hydrogen economy across continents. Despite facing financial challenges and stock volatility, Plug Power is positioned as a leading supplier of electrolyzer technology for large-scale sustainable energy projects worldwide. The Uzbekistan project highlights the growing government support and industrial-scale execution capacity for green hydrogen solutions.