Plug Power Secures 55 MW Green Hydrogen Agreement in the UK
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 17 2025
0mins
Source: Benzinga
Plug Power's Major Agreement: Plug Power Inc. has secured a 55-megawatt electrolyzer supply agreement for three significant green hydrogen projects in the UK, marking the largest combined electrolyzer award in the country to date.
Project Details: The projects include Barrow-in-Furness, Trafford Green Hydrogen, and Langage Green Hydrogen, which aim to produce renewable hydrogen for various industrial applications and are awaiting final investment approvals.
Government Support: All three projects are part of the U.K. government's Hydrogen Business Model, which offers long-term revenue support, with final decisions expected by late 2025 and early 2026.
Market Impact: Despite the positive developments, Plug Power's shares have seen a decline, trading lower by 5.92% at $2.112.
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Analyst Views on PLUG
Wall Street analysts forecast PLUG stock price to fall
15 Analyst Rating
4 Buy
8 Hold
3 Sell
Hold
Current: 3.780
Low
0.75
Averages
2.46
High
7.00
Current: 3.780
Low
0.75
Averages
2.46
High
7.00
About PLUG
Plug Power Inc. is engaged in providing an end-to-end hydrogen ecosystem, from production, storage, and delivery to energy generation. The Company is focused on delivering hydrogen solutions. Its vertically integrated, end-to-end hydrogen solutions are designed to fit customer needs, including hydrogen production equipment and the delivery of hydrogen fuel, including fuel cells, proton exchange membrane (PEM) electrolyzers, hydrogen liquefiers, liquid hydrogen cryogenic solutions, and hydrogen production. Its product and service portfolio includes GenDrive, GenFuel, GenCare, GenKey, GenEco Electrolyzers, Liquefaction Systems, Cryogenic Equipment, GenSure, and Liquid Hydrogen. GenDrive is a hydrogen fueled PEM fuel cell system, providing power to material handling electric vehicles (EVs), including Class 1, 2, 3 and 6 electric forklifts, automated guided vehicles, and ground support equipment. GenFuel is a liquid hydrogen fueling, delivery, generation, storage, and dispensing system.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Profitability: Bloom Energy boasts a return on equity (ROE) of 43.41%, well above the industry average of 6.92%, demonstrating its effectiveness in utilizing shareholder funds to generate profits, which bolsters investor confidence.
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- Market Outlook Analysis: Analysts predict Plug Power's adjusted EBITDA will turn positive by 2028, highlighting its ongoing investments and market expansion potential in the green hydrogen sector, particularly in industrial and transportation applications.
- Investment Risks and Opportunities: While CleanSpark and Plug Power stocks are currently volatile, the rising demand for renewable energy and increasing focus on green technologies suggest that holding these stocks long-term could yield significant returns.
See More
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- CleanSpark's Transformation: CleanSpark has successfully integrated its microgrid technology into Bitcoin mining by acquiring ATL Data Centers and upgrading its miners, with analysts projecting a 17% revenue increase in 2027, reflecting the growth potential of its AI infrastructure business.
- Plug Power's Market Position: Plug Power leads the hydrogen fuel cell market, with the number of deployed fuel cell systems rising from 50,000 at the end of 2021 to 74,000 by the end of 2025, indicating strong growth in the green hydrogen sector.
- Future Growth Expectations: Analysts expect Plug Power's revenue to grow at an 18% CAGR from 2025 to 2028, despite a growth stall in 2024, as government clients restart their hydrogen projects, driving future recovery.
- Market Competition and Risks: While CleanSpark and Plug Power show potential in their respective fields, CleanSpark's absence from The Motley Fool's list of top stocks indicates market caution regarding its long-term performance.
See More
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- Strong Stock Performance: Despite widespread bearish sentiment, Plug Power's stock has surged over 350% in the past year, demonstrating market recognition of the potential demand for hydrogen and the company's technology, although it faces challenges related to high costs and economic viability.
- Surge in Data Center Demand: With an estimated $7 trillion to be invested globally in data center infrastructure over the next few years, Plug Power aims to position its hydrogen fuel systems as a reliable backup solution for data centers, although interest in this solution remains uncertain.
- Increased Competitive Pressure: While Plug Power has potential in the hydrogen sector, its technology appears less competitive compared to rivals like Bloom Energy, leading analysts to remain skeptical about its long-term investment value, particularly in light of share dilution and ongoing business challenges.
See More
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- Hydrogen Market Challenges: The high costs of hydrogen fuel systems hinder their economic competitiveness against traditional fossil fuels and renewable energy, and while they hold potential in hard-to-decarbonize sectors like aviation and steel, reliance on government subsidies and pilot programs limits widespread adoption.
- Data Center Opportunity: With up to $7 trillion expected to be invested globally in data center infrastructure over the next few years, Plug Power aims to position its hydrogen fuel systems as a reliable backup for data center operations, although it remains uncertain how receptive the industry will be to such solutions.
See More
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See More
