Bloom Energy (BE) Soars Following Deal with American Electric Power Company

The share price of Bloom Energy Corporation (NYSE:BE) surged by 23.57% between January 7 and January 14, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Bloom Energy Corporation (NYSE:BE) designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. Bloom’s Energy Server generates power onsite, converting fuels like natural gas, biogas and hydrogen into electricity without combustion.

Bloom Energy Corporation (NYSE:BE) shot up after American Electric Power Company announced on January 8 that one of its units plans on purchasing $2.65 billion worth of solid oxide fuel cells from the company. The two parties signed an agreement in 2024 for AEP to acquire 100 MW of solid oxide fuel cells, with an option to purchase an additional 900 MWs. The utility exercised that option last week.

Following the deal, Clear Street raised its price target on Bloom Energy Corporation (NYSE:BE) from $58 to $68 on January 8, while maintaining its ‘Hold’ rating on the shares. The analyst expects the company’s sales to ‘benefit strongly’ from the recent order.

Following the recent gains, the share price of Bloom Energy Corporation (NYSE:BE) has jumped by almost 490% over the last year.

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