Plug Power Inc. (NASDAQ:PLUG) is one of the Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks.
On March 9, 2026, Bloomberg reported that Plug Power Inc. (NASDAQ:PLUG) announced plans to supply up to 250 megawatts of hydrogen-powered electricity in a potential special auction conducted by PJM Interconnection, the largest power system in the United States. Chairman Andy Marsh told Bloomberg that the corporation is considering participating as grid operators manage increased electricity demand caused by artificial intelligence data centers. PJM manages a 13-state power network in the eastern and midwestern United States, and it confronts possible power shortages as data center energy demand increases. The Trump administration has pushed for an emergency auction later this year to boost electricity supplies.
Photo by Kumpan Electric on Unsplash
Marsh said Plug Power Inc. (NASDAQ:PLUG) is already working with hyperscalers, data center firms, and utilities to discuss long-term power supply deals. The corporation would need contracts that span at least seven years to support hydrogen power deployment under the auction framework. Marsh revealed the plan as the firm passed leadership to newly appointed CEO Jose Luis Crespo as part of a succession plan outlined in October. The company also announced a lower-than-expected fourth-quarter loss and stated that it aims to attain positive EBITDA in 2026.
Plug Power, Inc. is an alternative energy technology company. It designs, develops, commercializes, and manufactures hydrogen and fuel cell systems for the material handling and stationary power markets.
While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. Follow Insider Monkey on Google News.