Plug Power Raises Approximately $1B to Accelerate the First Nation-Wide Green Hydrogen Network - FuelCellsWorks

One key sentence in this press release in my view:

"We have identified several locations working with strategic partners where we can produce green hydrogen at parity with grey hydrogen and see further opportunities to reduce the cost of green hydrogen". 

Pretty much every training session and webinar on hydrogen I have been in this year told me this is not possible today. Grey hydrogen $0.9-1.7, Green hydrogen $2.5-7/kg. With the latter expected to drop by 2030 to $1.2 in favourable locations and $.25 in average locations, through scaling of electrolysers and continued drop in cost of solar / wind.

One of the clues to this must be that Plug Power sources its renewable energy for green hydrogen production from Brookfield Renewable. Their portfolio of 7.3GW of capacity includes hydropower, solar, (onshore) wind and storage assets across 34 states. Drawing from a portfolio that large must provide opportunities to channel the cheapest electricity to the hydrogen production facility. The grid connecting the supplies and demand point  has to make this happen of course. Every day.

The power purchase agreement covers enough electricity to produce 10 tons of hydrogen per day. At an average electrolyser efficiency of say 72%, this equates to 550MWh or 23MW full load every 24 hours.