Overview
- Plug Power installed a 5MW GenEco electrolyzer on December 17 at Cleanergy Solutions Namibia’s Hydrogen Dune facility in Walvis Bay, which project partners describe as Africa’s first fully integrated commercial green‑hydrogen plant.
- The site pairs a 5MW solar park spanning 6.5 hectares with a 5.9 MWh battery to run the electrolyzer without grid dependence.
- Locally produced hydrogen is expected to supply hydrogen‑powered trucks, port and rail machinery, small ships calling at Walvis Bay, and automobiles adapted on site for dual‑fuel use.
- Plug Power also disclosed a liquid‑hydrogen supply agreement with NASA’s Glenn Research Center and Neil A. Armstrong Test Facility for up to 218,000 kilograms, a contract worth up to $2.8 million.
- Shares rose about 13% on Friday after recent debt refinancing and guidance toward positive EBITDA by late 2026, as Wall Street’s 12‑month consensus target implies roughly 27% upside and Craig Hallum’s Eric Stine reiterated a Buy rating on December 18.