Plug Power [NASDAQ: PLUG] and Apex Clean Announces Power Purchase Agreement

Plug Power Inc. [NASDAQ: PLUG] and Apex Clean Energy disclosed that they both have joined hands and inked a 345 MW wind power purchase agreement (PPA) and development services deal for a green hydrogen production facility. The power purchase agreement through the PPA will directly supply a new hydrogen production plant with 100% renewable power.

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The collaboration, which follows the September 2020 declaration of the firms’ partnership agreement, is marking Apex’s largest PPA to the present time. It is going to help understand the potential of green hydrogen in North America to move forward on the decarbonization of the transportation and industrial sectors.

Furthermore, the hydrogen plant, which is being co-designed by Apex and Plug Power, will be the first and largest wind-supplied hydrogen project in the US. It is the largest onshore wind-powered project around the world. Once functional, the plant is expected to generate over 30 metric tons per day of clean liquid hydrogen, enough to fuel the corresponding amount of over 2,000 light-duty vehicles or over 1,000 heavy-duty class 8 trucks.

Additionally, “Apex will speed up the shift to clean energy by offering carbon-free solutions. Groundbreaking solutions and collaborations with innovators like Plug Power assist the firm to grow the effect of its business. Moreover, it is taking the firm into the next frontier of decarbonizing the American market and expanding the possibilities of its industry-leading renewable energy portfolio.