Plug Power has closed a $1.66bn loan guarantee from the U.S. Department of Energy (DOE) to support the construction of up to six low-carbon liquid hydrogen projects.
The loan guarantee from the DOE’s Loan Programs Office (LPO), initially announced in May, will be welcome news for Plug Power.
It could enhance the company’s access to capital by reducing financing risks, as the government will act as a guarantor for a substantial portion of the debt associated with these projects.
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