Plug Power Inc. (NASDAQ: PLUG) saw its stock surge 5.16% in intraday trading following the announcement of a significant milestone in its European expansion. The company has begun installing a 5 MW electrolyzer for the H2 Hollandia project, set to become the largest green hydrogen initiative in the Netherlands.

The H2 Hollandia project, developed by Novar and Avitec, marks Plug Power's first commercial electrolyzer deployment in the Netherlands. This flagship system directly connects the 115-MWp Vloeivelden Hollandia solar park to Plug's electrolyzer, enabling green hydrogen production without additional stress on the electricity grid. The project is scheduled to be operational in 2026 and is expected to produce approximately 300,000 kilograms of green hydrogen annually for sustainable mobility and industrial use.

Investors are likely encouraged by the project's potential to serve as a model for localized, renewable hydrogen production and its alignment with the Dutch government's broader hydrogen strategy. As the Netherlands aims to become a major hydrogen hub in Northwest Europe, Plug Power's involvement in this initiative positions the company at the forefront of the region's clean energy transition. This development, coupled with Plug's ongoing operations at the Green Box facility in Hengelo, signals a significant expansion of the company's presence in one of Europe's most dynamic hydrogen markets.