Plug Power and Allied Green Sign 2 GW Electrolyzer Deal in Uzbekistan for $5.5 Billion Sustainable Fuels Project

Plug Power and Allied Green have expanded their strategic collaboration with a new 2 GW electrolyzer agreement for a $5.5 billion sustainable fuels project in Uzbekistan. The deal extends their global partnership to 5 GW, with Australia committing to 3 GW. Plug Power's electrolyzer technology will power the production of sustainable aviation fuel, green urea, and green diesel in Uzbekistan. The project is backed by the Uzbek government.

Plug Power Inc. (NASDAQ: PLUG) and Allied Green have announced a significant expansion to their strategic collaboration with a new 2 GW electrolyzer agreement for a $5.5 billion sustainable fuels project in Uzbekistan. This deal extends their global partnership to a total of 5 GW, with Australia committing to 3 GW. The project, backed by the Uzbek government, will utilize Plug Power's electrolyzer technology to produce sustainable aviation fuel, green urea, and green diesel.

The agreement is a testament to the growing demand for sustainable fuels and the increasing importance of green hydrogen technologies. It also highlights the potential of the Middle East and Central Asia as key markets for sustainable energy solutions.

Plug Power's recent financial performance has been robust, with Q2 2025 revenue reaching $174 million, up 21% from the previous year [1]. The company's electrolyzer sales tripled to $45 million, driven by growing scale and cost discipline [1]. The strategic partnership with Allied Green is expected to further boost Plug Power's revenue and market penetration, particularly in the green hydrogen and sustainable aviation fuel sectors.

The Uzbek government's support for the project underscores the region's commitment to sustainable energy development. The project is set to create jobs and stimulate economic growth in Uzbekistan, while also contributing to the country's environmental goals.

Plug Power's CEO, Andy Marsh, commented on the agreement, stating, "This collaboration with Allied Green is a significant milestone in our global expansion. The 2 GW electrolyzer agreement in Uzbekistan will enable us to produce sustainable aviation fuel, green urea, and green diesel, contributing to the country's energy transition and our own growth."

The expansion of Plug Power's global partnership to 5 GW, with a significant portion in Uzbekistan, positions the company as a leader in the sustainable energy sector. The deal also highlights the potential of the Middle East and Central Asia as key markets for sustainable energy solutions.

References:

[1] https://oilprice.com/Company-News/Plug-Power-Lifts-Q2-Revenue-21-as-Electrolyzer-Sales-Triple.html