Connecticut
Department of Public Utility Control Approves Financing Commitments for
Ultra-Clean FuelCell Energy Power Plant
Milford, Conn.
Project Helps Connecticut
Reach Its Clean Energy Goals for Power Generation
PORTLAND, Maine and
DANBURY, Conn., Apr 29, 2008 (PrimeNewswire
via COMTEX News Network) -- Energy East Corporation (NYSE:EAS) and FuelCell Energy, Inc. (Nasdaq:FCEL),
a leading manufacturer of high efficiency ultra-clean power plants for
commercial, industrial and utility customers, announced that the Connecticut
Department of Public Utility Control has approved their financing commitment
for the Milford, Conn. DFC-ERG(tm) project. Under
the financial commitment, Energy East will provide 80 percent of the
construction phase financing and will acquire 80 percent of the completed
project. The parties can now sign an Energy Purchase Agreement with
Connecticut Light and Power.
DFC-ERG Milford, LLC
will produce 9.0 MW of ultra-clean electric power using three of FuelCell Energy's DFC3000(tm) power plants in combination
with a 1.8 MW pipeline turbo expander. The DFC-ERG system will capture the
heat byproduct from FuelCell
Energy's fuel cells to use in the turbo expander. The turbo expander will
generate electricity using the pressure differential between the
transportation and distribution pipes at Southern Connecticut Gas Company's Milford, Conn. gate station. This means
that DFC-ERG installations turn the cost of wasted energy into ultra-clean,
revenue-producing energy.
The DFC-ERG has an
electrical efficiency of approximately 60 percent, compared to 30-40 percent
for other similarly sized combustion-based power generation systems. This
high efficiency -- second to none in the distributed energy market -- means
that less fuel is needed to create a unit of energy and significantly lower
levels of CO2, a major greenhouse gas, are produced. Fuel cells make power
electrochemically (without combustion), so they also produce almost no NOX,
SOX and particulate matter.
"This project is
another example of Energy East's commitment to environmental
sustainability," said Wes von Schack, Chairman
and CEO of Energy East. "By utilizing otherwise wasted energy from
pressure differentials on our natural gas system, this initiative achieved
the highest rating in the second round of Connecticut's Clean Energy Fund
Project 150."
Connecticut is one of 28 states and Washington
D.C. that have an RPS mandate. Under
Connecticut's
RPS, utilities are required to purchase 20 percent, or approximately 800 MW,
of their power from clean energy sources by 2020. Under Connecticut's Project 150, 150 MW of clean
power generation must be under contract with the utilities by October 1,
2008. Direct FuelCell(r) (DFC(r)) 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. Because of their quiet operation, low
profile and siting flexibility, fuel cells can be
located in grid constrained areas where the power is most needed. In
addition, distributed generation fuel cells can be economical compared to the
cost of building large new central generation power plants and associated
transmission and distribution.
"We're excited to
be working with Energy East on the largest DFC-ERG installation in the
world," said R. Daniel Brdar, Chairman and CEO
of FuelCell Energy. "This project, the first
of its kind to be built in the United States, has broad
applicability to the distribution systems of local gas distribution companies
all over the world."
Enbridge, Inc. (NYSE:ENB, TSX:ENB), FuelCell
Energy's partner in the development of the DFC-ERG, has identified 40-60 MW
of opportunities for the DFC-ERG system in Toronto and northern New York and
another 200-300 MW in California and the northeastern
U.S.
About Energy East
Corporation
Energy East
Corporation (NYSE:EAS) is a respected super-regional energy services and
delivery company serving about 3 million customers throughout upstate New York and New England.
By providing outstanding customer service and meeting customers' energy
requirements in an environmentally-responsible manner, Energy East will
continue to be a valuable asset to the communities we serve. Energy East's
operating companies are Central Maine Power (CMP), Connecticut Natural Gas
(CNG), New York State Electric & Gas (NYSEG), Rochester Gas and Electric
(RG&E) and Southern Connecticut Gas.
About FuelCell Energy
Inc.
FuelCell 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 40 locations worldwide. The company's power plants have generated more
than 200 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, trading companies and power companies around the
world. The company also receives substantial funding from the US Department
of Energy and other government agencies for the development of leading edge
technologies such as hybrid fuel cell/turbine generators and solid oxide fuel
cells. For more information, please visit our website at www.fuelcellenergy.com.
About Enbridge, Inc.
Headquartered in Calgary, Alberta, Canada, Enbridge is a leader in energy
delivery in North America. The Company
transports natural gas and crude oil, which are used to heat homes, power
transportation systems, and provide fuel and feedstock for industries. Enbridge
operates in Canada and the
United States,
the world's longest oil and liquids pipeline system. Enbridge is also
actively involved in natural gas transmission, gas distribution, renewable
and alternative energy, and international energy projects. Enbridge's vision
is to be North America's leading energy
delivery company, and its key objective is to generate superior shareholder
value. The Company employs more than 5,500 people, primarily in Canada, the United
States and South America.
Enbridge Inc. common shares trade on the Toronto
and New York
stock exchanges under the symbol "ENB." Visit www.enbridge.com.
This 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.
This news release was
distributed by PrimeNewswire, www.primenewswire.com
SOURCE: FuelCell
Energy, Inc.; Enbridge, Inc., Energy East Corporation
Energy East Corporation
Investor Relations
207-688-4386
www.energyeast.com
FuelCell Energy, Inc.
Lisa Lettieri
203-830-7494
ir@fce.com
Enbridge Inc.
Media
Jennifer Varey
(403) 508-6563
1-888-992-0997
jennifer.varey@enbridge.com