- 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."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV