Hydrogen leader offloads NY site to data center developer

Plug Power is abandoning its planned 120MW green hydrogen Project Gateway at the WNY STAMP site in Alabama, New York, and selling the property to Stream Data Centers for at least $132.5 million. The deal, disclosed via SEC filings and company statements, is the first move in a $275 million strategic infrastructure optimization initiative aimed at monetizing assets and strengthening Plug Power’s balance sheet. Stream plans to repurpose the site for large-scale data center development, reflecting how AI and cloud computing demand is reshaping industrial real estate in the region.