FuelCell Energy to build 14.9-MW fuel cell complex in Connecticut

Dec 17, 2012 - US fuel cell maker FuelCell Energy Inc (NASDAQ:FCEL) said Friday it had agreed to build on a turn-key basis a 14.9-MW fuel cell power complex in Connecticut for local energy producer Dominion Resources Inc (NYSE:D).

Under the agreement, FuelCell Energy will carry out the site design and construction of the complex as well as the production and installation of five 2.8-MW fuel cell power plants. The company also will operate and maintain the power plants under a 15-year services contract.

The fuel cell park, to be located on land leased by the city of Bridgeport, will include an organic rankine cycle turbine for added output and will produce enough power to supply some 15,000 households a year, FuelCell Energy estimates. Utility Connecticut Light & Power Co (OTC:CNLPL) will buy the output of the fuel cell park at a fixed price under a 15-year power purchase agreement (PPA).

FuelCell Energy intends to start construction immediately and expects to have the first power plant installed next summer. The whole fuel cell complex is to start commercial operation by December 2013.

The project will increase FuelCell Energy's product and service backlog by some USD 125 million (EUR 95m), of which some USD 56 million for product backlog and USD 69 million for service backlog, the company added.

(USD 1 = EUR 0.760)

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