Plug Power Inc. (PLUG) said it has secured an order for 25 megawatts (MW) of proton exchange membrane (PEM) electrolyzer systems from bp and Iberdrola's joint venture, Castellon Green Hydrogen S.L.
The project will employ five of Plug's 5 MW containerized PEM electrolyzers with a 25 MW capacity to decarbonize the operations at bp's Castellón refinery in Valencia, Spain and is expected to avoid 23,000 tons of CO2 emissions per year, the company said.
Plug's electrolyzers will be used at the project led by bp and Iberdrola to produce green hydrogen, replacing part of the refinery's current use of gray hydrogen generated from natural gas in its operations.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.