Mizuho Reaffirms Neutral on Bloom Energy (BE) After $5B Brookfield AI Power Deal

Core Insights - Bloom Energy Corporation (NYSE:BE) has formed a significant partnership with Brookfield to build AI factories, which is expected to enhance its role in data center projects [1][2] - Mizuho has reiterated a Neutral rating on Bloom Energy with a price target of $79.00, following the announcement of this partnership [1] Investment and Partnership Details - Brookfield will invest up to $5 billion to deploy Bloom's advanced fuel cell technology, which will supply approximately one-sixth of Brookfield's data center power needs over the next five years [2] - This partnership translates to an estimated 200 MW per year of orders for Bloom Energy, with the first order for Europe expected to be around 100 MW later this year [3] Order Visibility and Manufacturing Capacity - Mizuho tracks over 850 MW per year of order visibility for Bloom Energy over the next 3-5 years, although manufacturing limits currently restrict capacity to no more than 2 GW per year [3] - The firm estimates that Bloom Energy could reach a manufacturing capacity of 5 GW per year by 2029 [3] Company Overview - Bloom Energy develops solid-oxide fuel cell systems for on-site power generation, addressing the growing energy demands of AI data centers [4]