Evercore ISI<\/a>, analysts detailed Plug\u2019s 30-year concession agreement with the Belgian port to build a 100-megawatt green hydrogen plant using the company\u2019s leading PEM electrolyzers. The plant will produce up to 12,500 tons per year of liquid and gaseous green hydrogen for the European market.<\/p>\n\n\n\nWith the port being home to 1,400 companies and handling 289 million tons of maritime freight, 24 million tons of rail freight, and 108.5 million tons of barge freight per year, Evercore said the agreement is key to the future of hydrogen.<\/p>\n\n\n\n
\u201cWe are firm believers that ports and port operations are perfect industrial complexes for the use of hydrogen and these will play a key role in the creation of a hydrogen economy,\u201d the report said. \u201cPlug is leading the charge and is favorite way to invest in hydrogen. We remain Outperform on PLUG.\u201d<\/p>\n\n\n\n
Plug will build in the port\u2019s NextGen District, an area dedicated to companies supporting the circular economy. In fact, the port is within 300 miles of 60% of Europe\u2019s purchasing power.<\/p>\n\n\n\n
\u201cThe strategic location of the port near a large chemical industry cluster and close to the North Sea is well suited for the anticipated buildout of wind power in Europe,\u201d the Evercore report said. \u201cThe countries on the North Sea are all expected to be major producers of wind power and have committed to grow capacity to 65 GW by 2030 and 150 GW by 2050 (up from 15 GW today) as part of a recent agreement with Belgium, Germany, Denmark and the Netherlands.\u201d<\/p>\n\n\n\n
Construction of the plant will begin upon completion of the permitting process, which is anticipated in late 2023. Initial production of green hydrogen is expected in late 2024, and the plant will be commissioned in 2025.<\/p>\n\n\n\n
The Port of Antwerp-Bruges plant joins other investments Plug has made in Europe, including the opening of a service and logistics center in Germany,<\/a> the acquisition of Frames<\/a> and the HYVIA joint venture<\/a> with Renault.<\/p>\n\n\n\nSo, yes, Evercore \u2014 this is all a really big deal!<\/p>\n","protected":false},"excerpt":{"rendered":"
Plug\u2019s recently announced agreement with the Port of Antwerp-Bruges \u2014 the second largest port in Europe \u2014 to produce 35 tons per day of liquid green hydrogen was described as a key piece to the \u201ccreation of a hydrogen economy.\u201d In a June 12 report by Evercore ISI, analysts detailed Plug\u2019s 30-year concession agreement with ...<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-9398","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"aioseo_notices":[],"yoast_head":"\n
Plug\u2019s European Port Deal is \u2018A Really Big Deal,\u2019 Say Leading Analysts -<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n