- Brookfield Renewable (BEPC) and its institutional partners are joining forces with Plug Power to build a green hydrogen production plant
- The plant will utilize 100 per cent renewable energy from Brookfield Renewable’s Holtwood hydroelectric facility
- The plant will be located along the Susquehanna River in south-central Pennsylvania
- The plant is projected to produce approximately 15 metric-tons of 100-per-cent emissions-free liquid hydrogen per day
- Brookfield Renewable is up 1.38 per cent on the day, with shares of the company trading at C$57.12 at 12:20 pm ET
Brookfield Renewable (BEP.UN) and its institutional partners are joining forces with Plug Power to build a green hydrogen production plant.
The plant will utilize 100 per cent renewable energy from Brookfield Renewable’s Holtwood hydroelectric facility.
The plant will be located along the Susquehanna River in south-central Pennsylvania.
Construction is slated to begin by in the first quarter of 2022 and the plant is expected to be online by late 2022.
Once operational, the plant is projected to produce approximately 15 metric-tons of 100-per-cent emissions-free liquid hydrogen per day. It is also expected to create more than 25 green energy jobs in Pennsylvania.
Green hydrogen produced by the facility will support decarbonization of the broader transportation and logistics industries in the Northeast and the mid-Atlantic.
“This is another step in our quest to build the green hydrogen economy in the USA and globally thereafter. We are proud to be able to bring quality jobs and invest in the local economy in Lancaster County, PA through this green hydrogen production facility,” said Plug Power CEO Andy Marsh.
Brookfield Renewable is an owner and operator of one of the world’s largest publicly traded pure-play renewable power platforms.
As one of the first industrial-scale green hydrogen facilities in North America, the plant represents a significant milestone in Plug Power’s plan to establish the first North American green hydrogen network and to produce over 500 tons per day of hydrogen by 2025.
In the coming years, the hydrogen economy is expected to grow exponentially, potentially providing up to 24 per cent of energy needs and reaching $10.0 trillion in annual revenues by 2050 according to Bloomberg New Energy Finance.
Brookfield Renewable is up 1.38 per cent on the day, with shares of the company trading at C$57.12 at 12:20 pm ET.
