Plug Power abandoned plans for a large-scale green hydrogen plant at the Port of Antwerp-Bruges in Belgium. The project, first announced in 2022, aimed to produce 12,500 tons of liquid and gaseous green hydrogen annually for European markets.
Management cited poor economic viability and hydrogen market uncertainty as primary reasons for the cancellation. The company recorded a full impairment charge of €13.6 million on assets under construction.
The U.S.-based firm retains its 30-year site concession and is evaluating alternative uses for the assets. Port officials noted that a smaller-scale hydrogen project remains a possibility for the location.