This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

FuelCell Energy Announces Sale Of A 14.9 Megawatt Fuel Cell Park In Bridgeport, Connecticut To Dominion

Stocks in this article: FCEL

  • Turn-key agreement includes complete site design and construction of the park and manufacture and installation of five DFC3000® power plants  
  • Expected commercial operation of the fuel cell park by December 2013
  • FuelCell Energy to operate and maintain the power plants under a 15 year services agreement
  • Connecticut Light & Power will buy the ultra-clean electricity produced by the fuel cell park under a 15 year energy purchase agreement
  • Fuel cell park supports State of Connecticut renewable power generation goals, as well as approximately 160 direct jobs through the project term  

DANBURY,  Conn., Dec. 14, 2012 (GLOBE NEWSWIRE) --  FuelCell Energy, Inc. (Nasdaq:FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced that it is providing a turn-key distributed power generation solution for the engineering, procurement and construction of a 14.9 megawatt (MW) fuel cell park in Bridgeport, Connecticut that includes the manufacture and sale of five 2.8 megawatt DFC3000® fuel cell power plants. Dominion, one of the nation's largest producers and transporters of electricity, will oversee the development and owns the facility. The Connecticut Light and Power Company (CL&P) will buy the ultra-clean electricity generated by the facility under a 15 year fixed price energy purchase agreement. This 14.9 MW installation, consisting of the five fuel cell power plants and an organic rankine cycle turbine for added output and further efficiency gains, is adequate to power approximately 15,000 average size U.S. homes.

"We have diverse power generation assets and welcome the addition of stationary fuel cell power plants to our portfolio," said Thomas F. Farrell II, Chairman, President and Chief Executive Officer, Dominion. "This high efficiency, clean energy fuel cell park supports our goals of reducing our environmental footprint while investing in 21 st century energy technology." 

"The production of cleaner, cheaper and more reliable energy is the guiding principle behind our comprehensive energy strategy," said Governor Dannel P. Malloy. "Fuel cells and micro-grids like the ones being announced today are an essential part of achieving that goal. The more we can reach agreements like this, the lower rates will be for residents and businesses and the more competitive our state will be. I want to congratulate everyone involved, especially the Clean Energy and Finance Investment Authority, for seeing this project to fruition."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,831.54 +16.60 0.09%
S&P 500 2,071.04 +4.01 0.19%
NASDAQ 4,782.6290 +24.3770 0.51%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs