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DOE Announces $1.66 Billion Loan Guarantee for Plug Power to Produce and Liquify Clean Hydrogen Fuel
Loan guarantee follows on conditional commitment issued earlier this year
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Today, the U.S. Department of Energy’s (DOE’s) Loan Programs Office (LPO) announced the closing of a $1.66 billion loan guarantee ($1.55 billion in principal and $107 million in capitalized interest) to Plug Power Inc.’s subsidiary, Plug Power Energy Loan Borrower, LLC. This loan guarantee will help finance the construction of up to six facilities across several states that will produce clean hydrogen utilizing the company’s own electrolyzer technology.
Advancing clean hydrogen is essential to building a robust clean energy economy that creates healthier communities, strengthens energy security, and delivers new economic opportunities across the nation. Today’s announcement will help unlock the full potential of this versatile fuel and support the growth of a strong, American-led industry that ensures the United States remains at the forefront of the global economy for generations to come.
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