Plug Power said July 13 it has agreed to sell its planned Graham, TX, green hydrogen project (#9 in map below) to Stream Data Centers for up to $76.5 million. The sale includes land and 164 MW of grid-connection assets. As noted in this week’s Hydrogen Billboard, the transaction represents a growing trend in hydrogen and related clean-energy projects, as industrial sites with substantial power access are increasingly being redirected toward data centers because those projects can often generate higher and faster returns than energy-transition infrastructure.
Plug will receive $50 million at closing and up to $26.5 million based on the load capacity that will be confirmed in Stream’s final interconnection agreement with the Electric Reliability Council of Texas (ERCOT).
Stream Data Centers is one of the largest privately held U.S. developers of hyperscale data centers. Rather than operating a public cloud like Amazon Web Services or Microsoft Azure, Stream develops, builds, owns and operates the physical facilities that cloud providers, AI companies and large enterprises lease for their computing infrastructure. Founded in 1999, Dallas-based Stream’s primary markets include Atlanta, Chicago, Dallas, Houston, Phoenix and San Antonio, and other major data-center hubs.
The Graham site would have produced about 45 metric tons per day (MT/d) of liquid green hydrogen using electricity from nearby West Texas wind generation. It was to be the first of up to six projects built under a $1.66 billion loan guarantee announced by the Department of Energy (DOE) in the closing days of the Biden administration in January 2025. The status of the other projects that were to be built under the loan guarantee was not detailed in Plug's announcement.
North American green hydrogen projects.
Source: Hydrogen Billboard
