Plug Power's Hydrogen Milestone: First Electrolyzer Module Delivered to Galp
Plug Power has initiated a significant hydrogen project in Europe, delivering the first electrolyzer module to Galp. This move is expected to replace around 20% of gray hydrogen consumption with renewable hydrogen, marking a substantial step towards large-scale hydrogen use.
Galp will utilise these electrolyzers at its Sines refinery, aiming to produce up to 15,000 tons of renewable hydrogen annually. The project, one of Europe's largest, is set to have a combined electrolyzer capacity of 100 megawatts (MW) once fully operational with ten units delivered by early 2026.
Plug Power's CEO, Andy Marsh, expressed confidence in hydrogen's readiness for large-scale use, citing this project as evidence. Meanwhile, Plug Power itself has shown operational growth, with a 21% revenue increase to $174 million in Q2 2025 and record green hydrogen production in Georgia. However, the company continues to face financial challenges, including ongoing losses and investor concerns about share dilution. Plug Power is addressing these issues through 'Project Quantum Leap', focusing on cost reduction and efficiency improvements, while expanding its market presence through strategic alliances and large projects like this one.
Plug Power's electrolyzer delivery to Galp signals a significant step in Europe's transition to renewable hydrogen. Once operational, these units will contribute to a cleaner energy future, replacing a substantial portion of gray hydrogen consumption. Despite ongoing financial challenges, Plug Power remains committed to growth and innovation in the hydrogen sector.
