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Plug Power has commenced operations at the 'Hydrogen Dune' facility in Walvis Bay, Namibia, marking Africa's first fully integrated commercial green hydrogen plant. This facility features a 5-MW Proton-Exchange-Membrane (PEM) electrolyzer integrated with a 5-MW solar farm and a 5.9 MWh battery storage system, aimed at producing hydrogen for heavy-duty applications.

Analysts at H.C. Wainwright have reaffirmed a 'Buy' rating for Plug Power, maintaining a price target of $7.00 per share, indicating potential upside. The project aligns with a series of operational advances announced in December 2025, shifting from letters of intent to tangible revenue.

Plug Power's stock closed at €1.84, remaining below historical highs but above its 200-day moving average, indicating tentative stabilization. The company's path to profitability is ongoing, with the Namibian project crucial for demonstrating execution capabilities and addressing market skepticism.