Norton Rose Fulbright represents US Department of Energy in US$1.66 billion loan guarantee to Plug Power

Global law firm Norton Rose Fulbright represented the US Department of Energy’s Loan Guarantee Office (DOE) in connection with a US$1.66 billion guaranteed loan to Plug Power Energy Loan Borrower LLC, a subsidiary of Plug Power Inc. (Plug Power).

The loan guarantee, which closed on January 16, will help finance the development, construction and ownership of up to six green hydrogen facilities throughout the US that will produce and liquify clean hydrogen at scale.

The plants are expected to use Plug Power’s electrolyzer stacks, which are manufactured at its Rochester, New York factory, and its liquefaction and storage systems that are built at its Houston facility.

DOE’s loan guarantee for Plug Power is one of many recent investments in the domestic hydrogen economy, cementing the United States as a global leader in the development of innovative clean energy solutions and strengthening the country’s energy independence.

Norton Rose Fulbright’s core deal team was led by Marissa Leigh Alcala (Washington, DC) and Frank McCabe (Dallas) with Justin Goushas, Gabriela Larralde (Washington, DC), Ana Namaki and John Desan (New York).

Additional support was provided by Marjorie Glover, Tom Hall, Christy Rivera, Andrew Skroback, Emily Hong (New York), Debra Palmer, Hilary Lefko (Washington, DC), Mike Stimson, Jerry Converse, Ridley Holmes (Austin), John Young, Mitchell King, Kayce Kasten Borders (Chicago), Jesse Hollingsworth (Dallas) and Sharon Jeong (Los Angeles).