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