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
TheStreet Open House

Dominion Breaks Ground At Largest Fuel Cell Power Project In North America

BRIDGEPORT, Conn., May 3, 2013 /PRNewswire/ -- Gov. Dannel P. Malloy and Bridgeport Mayor Bill Finch today joined officials from Dominion (NYSE: D), one of the nation's largest energy companies, and FuelCell Energy Inc. (Nasdaq: FCEL) to break ground at the largest fuel cell power project in North America.

Dominion Bridgeport Fuel Cell, which is being built downtown alongside Interstate 95 and the Northeast rail corridor, will produce 14.9 megawatts of clean energy – enough to power approximately 15,000 homes – using an electro-chemical process that efficiently converts natural gas into electricity.

"This power station will generate clean, reliable, base load electricity for Connecticut," said David A. Christian, Dominion Generation chief executive officer. "Our clean energy portfolio today includes wind, hydro, biomass, and, soon, solar and this facility when it begins operating later this year. Along with electricity, this project supports Connecticut's clean energy goals while producing significant economic development benefits for the State and the City of Bridgeport."

Dominion Bridgeport Fuel Cell is part of Project 150, a program sponsored by the state and supported by the Clean Energy Finance and Investment Authority (CEFIA) to increase renewable and clean energy projects in Connecticut by 150 megawatts. CEFIA is the nation's first full-scale clean energy finance authority that leverages public and private funds to drive investment and scale up clean energy deployment in Connecticut. This project was supported by the City of Bridgeport, which provides a tax incentive development agreement that will be in place for the life of the project.

"Cleaner, cheaper, more reliable energy is a critical part of strengthening our economy," said Malloy. "For years Connecticut residents and businesses have paid energy costs that top anywhere else in the nation—to the detriment of family budgets and commerce. With our new energy strategy and a focus on increasing renewable power options and efficiency measures, we will bring down costs for ratepayers, reduce carbon emissions, and create thousands of clean energy jobs."

"We are proud to be the home for one of the largest fuel cell facilities in North America," said Finch. "This is a great example of public-private partnerships working together to create jobs, expand economic development and make our environment cleaner by producing virtually pollution-free electricity with a low carbon footprint. This fuel cell park is another successful addition to the city's expanding Eco-Industrial Park. Many thanks go to Dominion and FuelCell Energy for their diligence in moving this project forward, and to Gov. Malloy for promoting clean energy projects in the state of Connecticut."

FuelCell Energy Inc. will build, operate, and maintain the facility under contract to Dominion.  FCE is supplying five Direct FuelCell® stationary fuel cell power plants and an organic rankine turbine that will convert heat from the fuel cells into additional electricity.

1 of 2

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!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

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