SUBSCRIBE
PROFILE

Plug Power corrects its forecast for 2022

Plug Power updates its forecast for the year 2022, including its initial revenue forecast.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Plug Power updates its forecast for the year 2022, including its initial revenue forecast.

Forecasts revised downwards

Plug Power estimates that its full-year 2022 revenue forecast could be 5 to 10 percent lower for the year. The timing and supply chain would impact revenues initially estimated at $900 to $925 million. In addition, there will be delays in project completion schedules until 2023.

As a result, Plug Power decided to play the transparency card. The company will communicate in more detail on its short and medium term orientations during the Plug Symposium. The event will take place from its Gigafactory in Rochester, New York.

A technology of the future

Plug Power is building a renewable hydrogen ecosystem, from production, storage to delivery. The company is helping to create the first commercially viable market for hydrogen fuel cell technology. The company plans to produce electrolyzers and fuel cells and several renewable hydrogen production plants.

The company deploys more than 50,000 fuel cell systems and over 165 fueling stations. It hopes to initiate a renewable hydrogen highway across North America and Europe. The company assures that the demand for fuel cells and electrolyzers remains stable.

  • Popular on energynews.pro
T1 Energy launches construction of 2.1GW solar cell plant in Texas
Tokyu invests in 800 low-voltage solar plants through strategic partnership
Venezuelan oil: Caracas maintains exports despite US naval blockade
São Paulo pushes for termination of Enel’s concession before 2028
Kinder Morgan restores EPNG capacity at Lordsburg earlier than expected
Equinor contests €60mn fine imposed for maintenance failure
The Norwegian energy group rejects the sanction imposed for illegal gas discharges at Mongstad, citing disagreement over maintenance obligations and the alleged financial benefit.
Alpine Power Systems acquires Chicago Industrial Battery to strengthen PowerMAX offering
Alpine Power Systems announces the acquisition of Chicago Industrial Battery to expand its regional presence and support the growth of its PowerMAX line of used and rental batteries and chargers.
HASI and KKR inject additional $1bn into joint venture for sustainable infrastructure
HASI and KKR strengthen their strategic partnership with an additional $1bn allocation to CarbonCount Holdings 1, bringing the vehicle’s total investment capacity to nearly $5bn.
EDF could sell Edison and its US renewables assets
EDF is considering selling some of its subsidiaries, including Edison and its renewables activities in the United States, to strengthen its financial capacity as a €5bn ($5.43bn) savings plan is underway.
Qair secures inaugural €240 million syndicated loan with ten international banks
French group Qair secures a structured €240 million loan to consolidate debt and strengthen liquidity, with participation from ten leading financial institutions.
Xcel Energy launches $345mn bond buyback offer for its subsidiary NSPM
Xcel Energy initiates three public tender offers totalling $345mn on mortgage bonds issued by Northern States Power Company to optimise its long-term debt structure.
Umoyilanga hybrid project reaches major milestone with Dassiesridge plant commissioning
EDF power solutions' Umoyilanga energy project has entered provisional operation with the Dassiesridge wind plant, marking a key milestone in delivering dispatchable electricity to South Africa’s national grid.
JSW Energy targets $1.19bn capital raise to support its investment cycle through 2030
Indian group JSW Energy launches a combined promoter injection and institutional raise totalling $1.19bn, while appointing a new Chief Financial Officer to support its expansion plan through 2030.
Sembcorp acquires Alinta Energy for AU$6.5bn to enter Australian power market
Singapore’s Sembcorp Industries has entered the Australian energy market with the acquisition of Alinta Energy in a deal valued at AU$6.5bn ($4.3bn), including debt.
Potentia Energy secures $553mn financing to support its Australian portfolio
Potentia Energy has secured $553mn in financing to optimise its operational renewable assets and support the delivery of six new projects totalling over 600 MW of capacity across Australia.
Drax to invest up to £2bn to transform coal power station into data centre
Drax plans to convert its 1,000-acre site in Yorkshire into a data centre by 2027, repurposing former coal infrastructure and existing grid connections.
EDF installs 180-tonne synchronous compensator in Guadeloupe to secure power grid
EDF has inaugurated a synchronous compensator in Guadeloupe to enhance the stability of an isolated power grid, an unprecedented initiative aiming to reduce dependence on thermal plants and the risk of prolonged outages.
NGE and AREC launch an energy network to shape Magna Porta
NGE and the Agence Régionale Énergie Climat Occitanie form a partnership to develop a heating and cooling network designed to support economic activity in the Magna Porta zone, with locally integrated production solutions.
GEODIS and EDF sign deal to decarbonise global logistics chain
GEODIS and EDF have signed a strategic partnership to cut emissions from logistics and energy flows, with projects planned in France and abroad.
ExxonMobil cuts $10 billion from its low-carbon plans by 2030
The American oil group now plans to invest $20 billion in low-emission technologies by 2030, down from the $30 billion initially announced one year earlier.
BHP sells 49% of its Pilbara power network to GIP for $2 billion
BHP sells a minority stake in its Western Australia Iron Ore power network to Global Infrastructure Partners for $2 billion, retaining strategic control while securing long-term funding for its mining expansion.
Chinese cleantech investments reshape the global industrial energy map
More than $80bn in overseas cleantech investments in one year reveal China’s strategy to export solar and battery overcapacity while bypassing Western trade barriers by establishing industrial operations across the Global South.
Exxaro expands its energy assets and strengthens renewable capacity
Exxaro increases its energy portfolio in South Africa with new wind and solar assets to secure power supply for operations and expand its role in independent generation.
Plenitude acquires ACEA Energia for €587mn and accelerates European growth
Plenitude acquires full ownership of ACEA Energia for up to €587mn, adding 1.4 million customers to its portfolio and reaching its European commercial target ahead of schedule.
ABB takes stake in OctaiPipe to optimise data centre operations
ABB invests in UK-based start-up OctaiPipe to strengthen its smart energy-saving solutions for data centre infrastructure.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.