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Plug Power signs BEDP contract for a 500-MW electrolyzer in Europe

Plug Power has signed a contract to deliver a basic engineering and design package (BEDP) for a 500 megawatt (MW) electrolyzer project in Europe. The contract, signed on January 29, 2024, increases Plug’s total amount of BEDP contracts to 4.1 gigawatts (GW).

Plug started offering a BEDP to the market in 2022. The BEDP provides the engineering and plant integration details to allow a full plant front-end engineering design (FEED) study to proceed purposefully and efficiently to understand, in detail, the capital and operating expenditures associated with running a potential plant.

The BEDP approach enables Plug’s customers to seamlessly integrate the electrolyzer package into the project’s broader engineering and construction plan. Customers also benefit from Plug’s experiences building its own plants and sharing lessons learned as the only electrolyzer OEM supplier building green H2 plants.

“Plug’s ability to secure BEDP contracts totaling 4.1 GW demonstrates that this approach is relevant to the market,” said Andy Marsh, CEO of Plug. “Moreover, Plug’s conversion rate after providing a BEDP is high. We have already been awarded 1.1 GW worth of electrolyzer supply, subject to positive FID, and 100 MW are in execution for Galp, an oil and gas company in southern Europe.”