Connecticut Department of Public Utility Control
Issues Final Decision Approving 27.3 Megawatts of Projects Using FuelCell
Energy Power Plants
Help Connecticut Reach Its Clean and Renewable Goals for Power Generation
Conn., Apr 9, 2009 (GlobeNewswire via COMTEX News Network) -- FuelCell
Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency,
ultra-clean power plants using renewable and other fuels for commercial,
industrial, government and utility customers, today announced that the
Connecticut Department of Public Utility Control (DPUC) issued its final
decision approving 27.3 megawatts (MW) of projects incorporating the
company's highly efficient Direct FuelCell(r) (DFC(r)) power plants. The
sales value of the projects will be $84 million when project developers
finalize electricity purchase agreements and project financing.
approved projects include nine FuelCell Energy DFC3000 power plants: 3.4 MW
DFC-ERG for a natural gas letdown station in Bloomfield, Conn.; 3.2 MW Direct
FuelCell/Turbine (DFC/T) for a substation in Danbury, Conn.; 14.3 MW DFC3000
in Bridgeport, Conn.; 3.2 MW DFC-ERG in Trumbull, Conn.; and 3.2 MW DFC-ERG
in Glastonbury, Conn. The Connecticut Clean Energy (CCEF) Fund recommended
the five projects under Round 3 of Project 150, which requires Connecticut
utilities to enter into Energy Purchase Agreements for 150 MW of clean power.
With this latest approval, the DPUC will have approved 153 MW of projects
including 43.5 MW of FuelCell Energy power plants.
DFC-ERG and DFC/T power plants achieve approximately 60 percent electrical
efficiency -- the highest electrical efficiency of any available distributed
generation technology," said R. Daniel Brdar, Chairman and CEO of
FuelCell Energy. "This efficiency results in low carbon emissions
because less fuel is used to produce electricity. And because our power
plants do not combust fuel, our customers also benefit from near-zero
emissions of NOX, SOX and particulate matter."
generation fuel cells locate the power generation where it's needed, adding
24/7, baseload power to the existing transmission and distribution network.
Because the installations are smaller than typical central generation power
plants, they are easier to site, permit, and finance. Central generation
plants are larger, take significantly longer to permit and construct, and
have higher emissions. Additionally, they often require new, controversial
transmission and distribution lines to deliver the power to where it is
needed. DFC power plants can be deployed in approximately one year and
require no new transmission and distribution investment.
is one of 28 states and Washington D.C. that have Renewable Portfolio
Standards (RPS). Under Connecticut's RPS, utilities are required to purchase
27 percent or approximately 1,000 MW of their power from clean energy sources
by 2020. Fuel cells are an ideal part of the clean energy solution for RPS
states because they provide reliable baseload power 24 hours a day, with
near-zero emissions and low CO2.
Energy is the world leader in the development and production of stationary
fuel cells for commercial, industrial, municipal and utility customers.
FuelCell Energy's ultra-clean and high efficiency DFC(r) fuel cells are
generating power at over 50 locations worldwide. The company's power plants
have generated more than 275 million kWh of power using a variety of fuels
including renewable wastewater gas, biogas from beer and food processing, as
well as natural gas and other hydrocarbon fuels. FuelCell Energy has
partnerships with major power plant developers and power companies around the
world. The company also receives funding from the U.S. Department of Energy
and other government agencies for the development of leading edge
technologies such as fuel cells. For more information please visit our
website at www.fuelcellenergy.com
news release contains forward-looking statements, including statements
regarding the Company's plans and expectations regarding the continuing
development and commercialization of its fuel cell technology. 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 utility
regulatory environment, 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 based.
FuelCell, DFC, DFC/T and FuelCell Energy, Inc. are all registered trademarks
of FuelCell Energy, Inc. DFC-ERG is a trademark jointly owned by Enbridge,
Inc. and FuelCell Energy, Inc.
news release was distributed by GlobeNewswire, www.globenewswire.com
FuelCell Energy, Inc.
FuelCell Energy, Inc.