Green hydrogen is rapidly emerging as a key technology in the global energy transition. During the “Storage, Renewable and Electric Vehicles Integration Forum” virtual event, organised by Strategic Energy Corp, Plug Power reaffirmed its commitment to green hydrogen development, highlighting its projects in Europe and North America, as well as the challenges and opportunities facing the sector.

Anis Ayoub, Business Development Manager at Plug Power, stressed that the hydrogen industry is undergoing rapid expansion, with increasingly ambitious projects. “We have deployed more than 50 MW of electrolysers in Europe and operate a 45 MW plant in Georgia, USA, which has been running for over a year,” he stated. Additionally, the company recently announced its involvement in a 25 MW project with BP and Iberdrola in Castellón, as well as a 100 MW agreement with Galp in Portugal.

Relieve the event here:

The first Strategic Energy Corp event of the year was a two-part virtual session organised by Mobility Portal Europe and Strategic Energy Europe. Strategic Energy Corp partnered with Future Energy Summit (FES) to host this event, as FES is the leading platform for renewable energy discussions in Spanish-speaking countries, providing forums that facilitate debate and networking among major global and regional companies to drive the energy transition.

Notably, on 24 June, the third edition of FES Iberia 2025 will take place at Colegio Caminos (Auditorio Betancourt, C. de Almagro, 42, Chamberí) in Madrid. (Relive the previous edition here). The event will feature companies such as Iberdrola, Nextracker, Engie, Grenergy, Statkraft, Acciona Energía, Red Eléctrica, and EDP Renovables, alongside key representatives from Spain’s regional governments and Latin America. Key discussion topics will include solar and wind energy, energy storage, green hydrogen, distributed generation, PPAs, auctions, and new projects.

Hydrogen and batteries: Complementary technologies in the energy transition

During his address, Ayoub explained that green hydrogen does not compete directly with batteries but rather complements them. “Today, we see that Europe’s grid faces significant challenges, with an estimated 12 TWh of renewable energy curtailed in 2023 due to a lack of storage capacity,” he noted.

According to Plug Power, hydrogen plays a crucial role in long-term energy storage. While batteries offer greater energy conversion efficiency (with efficiency rates between 80-85% compared to hydrogen’s 25%), hydrogen storage in tanks is up to 10 times cheaper than lithium batteries. “When storage demand exceeds 10 or 12 hours, hydrogen becomes a viable and competitive option,” he asserted.

Additionally, several European utilities are already exploring hydrogen-based energy storage projects, albeit at relatively small scales, typically ranging from 500 kW to 2 MW. However, the long-term vision involves developing underground hydrogen storage, enabling hydrogen production during periods of high renewable generation and its use when energy demand peaks.

Regulatory and financial challenges for green hydrogen adoption

Despite enthusiasm for the sector’s growth, Plug Power acknowledges that significant barriers remain to the mass adoption of green hydrogen. One of the main obstacles is the lack of a clear regulatory framework that encourages both supply and demand. “Today, subsidies are primarily focused on developers, but it is crucial that they also target end consumers to ensure market viability,” Ayoub stated.

Another key challenge is securing long-term power purchase agreements (PPAs) for hydrogen projects. “Even fully developed projects struggle to secure offtake contracts, preventing them from reaching the final investment decision (FID),” explained the executive. For green hydrogen to achieve mass adoption, a stronger incentive framework is needed, including more aggressive carbon pricing policies and dedicated financing schemes to bridge the cost gap with fossil fuels.

Growth prospects for 2025 and beyond

Despite these challenges, Plug Power maintains an optimistic outlook for the coming years. “We are in a marathon, not a sprint. We expect to see significant progress in 2025, with several projects reaching FID and some small-scale systems commencing commercial operation,” Ayoub commented.

The company continues to bet on hydrogen growth in Europe, with a presence in Spain, Germany, and the United Kingdom, among other countries. “We are here to support our clients, de-risk projects, and make them viable through our engineering and execution expertise,” he concluded.

As the energy transition accelerates and the need for energy storage becomes increasingly critical, Plug Power is positioning itself as a key player in the expansion of green hydrogen across Europe and beyond.