FuelCell Energy Announces Sale of a 14.9 Megawatt Fuel Cell Park in
Bridgeport, Connecticut to Dominion
*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
*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."
"This is a terrific example of urban redevelopment, providing a new source of
tax revenue to the City of Bridgeport from a power production facility that
quietly generates clean energy with a low carbon footprint," said Bridgeport
(CT) Mayor Bill Finch. "This fuel cell park will be another successful piece
in our expanding Eco-Industrial Park, part of our BGreen2020 plan to protect
our environment and green our City."
Construction will begin immediately with the first plant installation in the
summer of 2013 and the remaining plants installed in stages.The
inter-connection process to connect the fuel cell park to three electrical
substations in the City is already in process and is being performed by United
Illuminating, the local utility that owns the substations.The fuel cell park
will be fully operational by the end of 2013.The fuel cell power plants will
use natural gas as the fuel source.
"This is the largest project that we have developed to date in the USA,
working with three utilities, local, and state government to enhance the
reliability of the electric grid with clean distributed power generation,"
said Chip Bottone, President and Chief Executive Officer of FuelCell Energy,
Inc."This highly efficient and ultra-clean fuel cell park will produce
economic value for a broad number of stakeholders, both public and private, as
well as provide public health benefits."
The project is supported by the Clean Energy Finance and Investment Authority
(CEFIA).The project will increase product and service backlog for FuelCell
Energy by approximately $125 million, including approximately $56 million for
product backlog and $69 million for service backlog.
Multi-megawatt fuel cell parks solve power generation challenges for utilities
as the combination of dramatically lower pollutants, modest land-use needs,
and quiet operating nature of fuel cell power plants facilitates their siting
in urban locations. Fuel cell parks offer a multitude of advantages for
utilities and neighboring communities, including:
*Ultra-clean power:Fuel cells generate ultra-clean power and heat
electrochemically, without combustion.The power is termed ultra-clean
reflecting the dramatically lower quantity of pollutants in the power
generation process such as nitrogen oxide (NOx), sulfur dioxide (SOx) and
particulate matter, pollutants that cause smog and public health issues.
*High efficiency:Fuel cells are the most efficient baseload power
generation option for their size class, providing the greatest amount of
power from a given unit of fuel.High efficiency also reduces carbon
emissions compared to less efficient combustion-based power generation.
*Scalable:DFC plants are scalable, providing a cost effective approach to
adding power generation incrementally as power demand grows within
electric utility service areas.
*Distributed Generation:Generating power near the point of use lessens the
need for electric utilities to invest in costly and difficult to site
transmission and distribution grids.
*Reliable:Distributed generation improves power reliability and energy
security by lessening reliance on transmission and distribution.
*Baseload:Fuel cells provide continuous power around the clock and are not
reliant on weather or time of day.
The fuel cell park is located on approximately 1.7 acres of land leased from
the City of Bridgeport and is immediately adjacent to the northeast rail
corridor and Interstate 95.Bridgeport, Connecticut, a city of approximately
145,000 citizens, is located approximately 60 miles east of New York City.
Project participant summary
FuelCell Energy, Inc. (Nasdaq:FCEL):Engineer and construct the fuel cell
park including manufacture, sale and installation of five DFC3000 fuel cell
power plants, and then operate and maintain the plants for the 15 year EPA
Dominion Bridgeport Fuel Cell, LLC.(parent: Dominion) (NYSE:D):Project
owner responsible for overseeing the development, construction and operation
of the power facility.
The Connecticut Light & Power Company (Parent is Northeast Utilities),
(NYSE:NU): Purchases electricity generated by the fuel cell park under a 15
United Illuminating Company (Parent is UIL Holdings), (NYSE:UIL):Owns the
three substations that will be receiving power from the fuel cell park, and
is performing the inter-connection work.
City of Bridgeport, Connecticut:Owns the property where the fuel cell park
is located, leasing it to Dominion Fuel Cell Park, LLC and receiving
property tax revenue in return.
Clean Energy Finance and Investment Authority: Providing financial support
to the fuel cell project including multi-year financial support to FuelCell
Ormat Technologies (NYSE:ORA):Supplier of the proprietary Organic Rankine
Cycle equipment, the Ormat ® Energy Converter, that converts heat into
electricity.The installation and routine service will be performed by
FuelCell Energy with supporting technical advisory services provided by
Rockwell Automation (NYSE:ROK):Supplier of electrical inverters to FuelCell
Energy for the fuel cell power plants.
Dominion is one of the nation's largest producers and transporters of energy,
with a portfolio of approximately 27,400 megawatts of generation, 11,000 miles
of natural gas transmission, gathering and storage pipeline and 6,300 miles of
electric transmission lines. Dominion operates one of the nation's largest
natural gas storage systems with 947 billion cubic feet of storage capacity
and serves retail energy customers in 15 states. For more information, visit
the company's website at www.dom.com.
With 1.2 million customers in 149 cities and towns, Connecticut Light and
Power Company (CL&P) is the largest utility in the State.
As the nation's first full-scale clean energy finance authority, Clean Energy
Finance and Investment Authority leverages public and private funds to drive
investment and scale up clean energy deployment in Connecticut through
incentives and innovative low-cost financing.
About FuelCell Energy
Direct FuelCell® power plants are generating ultra-clean, efficient and
reliable power at more than 50 locations worldwide. With approximately 300
megawatts of power generation capacity installed or in backlog, FuelCell
Energy is a global leader in providing ultra-clean baseload distributed
generation to utilities, industrial operations, universities, municipal water
treatment facilities, government installations and other customers around the
world. The Company's power plants have generated more than one billion
kilowatt hours of ultra-clean power using a variety of fuels including
renewable biogas from wastewater treatment and food processing, as well as
clean natural gas. For more information please visit our website at
See us on YouTube at www.youtube.com/user/FuelCellEnergyInc?feature=watch
The FuelCell Energy, Inc. logo is available a
This news release contains forward-looking statements, including statements
regarding the Company's plans and expectations regarding the continuing
development, commercialization and financing of its fuel cell technology and
business plans. All forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
projected. Factors that could cause such a difference include, without
limitation, general risks associated with product development, manufacturing,
changes in the regulatory environment, customer strategies, potential
volatility of energy prices, rapid technological change, competition, and the
Company's ability to achieve its sales plans and cost reduction targets, as
well as other risks set forth in the Company's filings with the Securities and
Exchange Commission. The forward-looking statements contained herein speak
only as of the date of this press release. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
such statement to reflect any change in the Company's expectations or any
change in events, conditions or circumstances on which any such statement is
Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all
registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered
trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.
CONTACT: FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
Director - Media Relations/Generation
FuelCell Energy Logo
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