Plug Power & Galp Kickstart 100MW Green Hydrogen Project in Portugal
Plug Power has initiated a significant project with Galp in Portugal, aiming to produce green hydrogen at a large scale. The first 10-MW module of its GenEco™ electrolyzer has been delivered to Galp's refinery in Sines, with the entire 100 MW project expected to be completed by early 2026.
The project, one of the largest PEM water electrolysis projects in Europe, is set to produce up to 15,000 metric tons of green hydrogen annually. This will replace 20% of the current gray hydrogen used in the refinery, which is primarily sourced from natural gas, reducing its carbon footprint.
Refineries and chemical plants use hydrogen for various processes, including desulfurization and conversion of heavy oil fractions. Green hydrogen, produced through electrolysis using renewable energy, offers a cleaner alternative. Plug Power's CEO, Andy Marsh, sees this collaboration as a model for the European refining sector and the entire energy industry, demonstrating that hydrogen at scale is ready today.
Upon completion, the project is estimated to save approximately 110,000 metric tons of CO2 equivalents per year. This significant reduction in emissions is a testament to the potential of green hydrogen in decarbonizing the fossil energy industry. Plug Power's stock rose by 3.6% to 2.06 euros in German trading on Wednesday afternoon, reflecting investor confidence in the project.
The collaboration between Plug Power and Galp is a substantial step towards a greener future. With the completion of the 100 MW project in early 2026, it will produce enough green hydrogen to significantly reduce emissions in the refinery process. This project not only presents a significant market potential for Plug Power but also serves as a model for the wider adoption of green hydrogen in the energy industry.
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