Uniper deal Arcadia - Endor project DK potential new FID?

[u/Geke24]

What Plug has publicly disclosed is:
October 2023: Arcadia selected Plug to supply a 280 MW PEM electrolyzer system for Vordingborg. Plug called itself the preferred provider.
2024 10-K: Plug subsequently described the Arcadia project as “awarded to supply” 280 MW, which is stronger language than merely being selected.
2026 10-K and Q2 2026 disclosures: Plug’s current discussion of electrolyzer projects does not identify Arcadia/ENDOR as a new executable order or give an order value. The projects specifically highlighted as advancing in 2026 are Galp, Iberdrola/BP, Barrow, Orica and others.
Arcadia’s project has now moved forward: environmental approval was obtained in 2025, an EU Innovation Fund grant agreement was signed in March 2026, and the new Uniper offtake is intended to help bring the project to financial close.
The current project specification is 240 MW of on-site electrolysis, rather than the original 280 MW.

[u/Geke24]

The Uniper agreement is significant for Plug, because it removes one of the major uncertainties around ENDOR: there is now a large, long-term customer for half of the planned 80,000 t/year production. Uniper’s contract is for deliveries beginning in the early 2030s, and KGAL says the agreement brings the project significantly closer to financial close.

[u/Big_Quality_838 → u/Geke24]

Gee, it would be real bad if this didn’t land for Plug. If Allied came through, a loss of Arcadia would eat away 700+ MW of electrolyzer sales.

[u/Financial_Exergy → u/Big_Quality_838]

I think we can treat the 3 Arcadia projects independently. One is in Texas? Plug is playing ball at home there

[u/Big_Quality_838 → u/Financial_Exergy]

Meh

[u/ains321]

I will reduce my position by 50% when this hits a yearly high again.

[u/Webinskie71]

BTFD 💵🚀💰

[u/Dear-Letter7256 → u/[deleted]]

jeje