Plug Power Inc. closed a $1.66 billion loan guarantee from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO). This financing is designated to support the construction of up to six projects for producing and liquefying zero- or low-carbon hydrogen across the United States.
Plug’s green hydrogen plant in Graham, Texas, powered by an adjacent wind farm, is identified as the first beneficiary of this loan guarantee. The project is expected to create hundreds of high-quality jobs.
This loan guarantee represents a significant step in expanding Plug's domestic manufacturing and hydrogen production capabilities. It aims to reduce carbon emissions, enhance the resilience of the U.S. energy grid, and strengthen America’s energy independence.
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