Bloom Energy and SK ecoplant, a subsidiary of South Korea’s SK Group, have extended the terms of the Preferred Distributor Agreement the companies signed in 2021, according to a news release.
SK ecoplant has committed to purchase 500 MW of energy servers from Bloom through 2027. The transaction is expected to generate approximately $1.5bn in product revenue and $3bn of service revenue over 20 years for Bloom.
The agreement extends the initial term from 2024 to 2027 and includes a recommitment of approximately 250 MW from the 2021 agreement with an additional 250 MW under this agreement.
SK ecoplant will be a preferred distributor globally for Bloom Energy solid oxide fuel cells and solid oxide electrolyzers. Bloom Energy and SK ecoplant have deployed 400 MW since the beginning of the partnership.
SK ecoplant has made a roughly $566m equity investment in Bloom and owns about 10% of the shares.
