Plug Power secures BEDP contracts totalling 7.5GW for Global Electrolyzer Projects

Plug Power Inc., a global leader in comprehensive hydrogen solutions for the green hydrogen economy has achieved a significant milestone reaching 7.5 gigawatts (GW) in global Basic Engineering and Design Package (BEDP) contracts since introducing the offer two years ago.

“The introduction of our BEDP has significantly propelled the growth of our electrolyzer business,” said Andy Marsh. “This milestone highlights the increasing demand for green hydrogen and underscores Plug’s industry-leading position in PEM electrolyzer technology and driving the green hydrogen revolution.”

A BEDP provides the engineering and plant integration details to allow a full plant front-end engineering design (FEED) study to proceed purposefully and efficiently and to understand, in detail, the capital and operating expenditures associated with running a potential plant.

Following the project development work and completion of BEDP and FEED activities, customers select suppliers and look to secure a Final Investment Decision (FID). The technologies and suppliers’ maturity and track record contribute to any green hydrogen project reaching FID.

The general timeline for these projects to move from BEDP and FEED to FID is approximately 6-18 months. At that point, the BEDP funnel could translate into electrolyzer sales, with each GW representing up to $0.5B to $0.75B in potential revenue.

Most recently, Plug closed a 3 GW BEDP contract with Allied Green Ammonia for an electrolyzer project in Australia. The company has an additional 4.5 GW of BEDP contracts spanning the U.S. and Europe.

Plug’s ability to scale its electrolyzer business demonstrates its expertise in Proton Exchange Membrane (PEM) technology and liquid hydrogen plants, being the sole electrolyzer OEM supplier constructing green hydrogen plants.