CleanTechnica•about 2 months ago
When Hydrogen Maintenance Meets Meltdown: Inside Plug Power’s Desperation Phase
Key Takeaway
This event underscores the high financial and execution risks associated with large-scale green hydrogen projects, even with substantial government backing, impacting future investment and development in the sector.
AI Summary
- •Plug Power is suspending work on its Department of Energy-backed green hydrogen projects, walking away from a $1.66 billion federal loan guarantee.
- •This decision signals significant financial distress for a major green hydrogen OEM and raises concerns about the immediate bankability and scalability of large-scale green hydrogen initiatives.
- •The event highlights the substantial risks and execution challenges, even with federal support, in developing and deploying emerging energy technologies like green hydrogen.
Topics
emissionsfinancingoempolicystorage
Article Content
Plug Power’s announcement that it is suspending work on its Department of Energy–backed green hydrogen projects marks a sobering turning point. Most companies would fight to secure a $1.66 billion loan guarantee from the federal government. Plug Power is walking away from it. That decision, combined with yet another round ... [continued] The post When Hydrogen Maintenance Meets Meltdown: Inside Plug Power’s Desperation Phase appeared first on CleanTechnica .