Plug Power, Inc. (NASDAQ:PLUG) shares rose on Wednesday after the company announced a major milestone in renewable hydrogen deployment in Africa.
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The update underscored growing global interest in clean energy production.
Plug Power said it installed a 5MW GenEco electrolyzer for the Cleanergy Solutions Namibia green hydrogen project. The system supports Africa’s first fully integrated commercial green hydrogen facility in Walvis Bay.
The electrolyzer connects directly to the Hydrogen Dune site’s renewable setup, which includes a solar park and battery energy storage. This configuration allows off-grid hydrogen production.
Locally produced hydrogen will power hydrogen-fueled trucks, port and rail equipment, and small vessels operating at the Port of Walvis Bay.
The plant will also supply fuel to vehicles converted for dual-fuel use.
Plug Power said combining renewable power with its electrolyzer creates a vertically integrated model that links clean electricity to clean hydrogen. The company said the approach strengthens Namibia’s potential as a regional hydrogen hub.
Jose Luis Crespo, president and chief revenue officer at Plug Power, said the project shows green hydrogen moving from concept to commercial reality while supporting economic development.
Company executives said the facility could serve as a template for hydrogen infrastructure expansion across Africa and nearby markets.
Renewable hydrogen continues to gain traction worldwide as governments and industries seek decarbonization solutions.
Plug Power said the Namibia project aligns with its strategy to expand in emerging hydrogen markets.
PLUG Price Action: PLUG shares are trading lower by 0.35% to $2.28 at publication on Wednesday.
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