Bloom Energy And SK ecoplant Supercharge Sustainable Power With Extended Deal: Details
Portfolio Pulse from Shivani Kumaresan
Bloom Energy Corp (NYSE:BE) has extended its Preferred Distributor Agreement with SK ecoplant until 2027, increasing the commitment to 500 MW of Energy Servers. The deal is expected to generate approximately $1.5 billion in product revenue and $3 billion in service revenue over 20 years. SK ecoplant, which has invested $566 million in Bloom and owns about 10% of its shares, will be a preferred distributor for Bloom's SOFC and SOEC products in key markets.
December 22, 2023 | 5:06 pm
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Bloom Energy's extended agreement with SK ecoplant until 2027 for 500 MW of Energy Servers is likely to bring in significant revenue, with $1.5 billion in product sales and $3 billion in service revenue over two decades.
The extension of the agreement with SK ecoplant is a significant positive development for Bloom Energy, as it not only extends the partnership but also doubles the commitment, ensuring a substantial revenue stream for the company. The equity investment by SK ecoplant demonstrates strong confidence in Bloom Energy's business and technology, which could positively influence investor sentiment and the stock price in the short term.
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IMPORTANCE 90
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