NEWS / Stock

Plug Power Wins 275MW Electrolyzer Contract

Published Apr 7, 2026

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Industrial facility interior with large stainless steel tanks, cylinders, and green pipelines, used for processing or manufacturing with Plug Power’s advanced electrolyzer technology under contract.

Summary:

Plug Power won a FEED contract to supply 275MW electrolyzer for Hy2gen Canada's green hydrogen project in Quebec.
The facility will produce decarbonized ammonia and ammonium nitrate for mining, powered by Hydro-Quebec's clean energy.
Stock jumped 11.6% to $2.69; construction begins 2027 and commissioning in 2029.

Plug Power won its largest contract ever - a 275MW electrolyzer order for green hydrogen production in Quebec. Shares jumped 11.6% to $2.69.

The Green Hydrogen Project

Hy2gen Canada is building one of North America's largest green ammonia plants in Quebec. It converts green hydrogen into ammonia and ammonium nitrate for mining.

The facility runs on Hydro-Quebec's clean electricity.

At 275 megawatts, this is Plug Power's biggest order. The FEED phase pays Plug to design the system before construction starts in 2027.

What to Watch

Plug Power must deliver this project on time without cost overruns. Success here opens doors to more hydrogen economy contracts as the industry receives major funding.

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