| The Selection
of Six Secure Ultra-Clean Multi-Megawatt Projects Supports the State's
Initiative to Improve Power Generation in Connecticut
DANBURY, Conn.-- FuelCell Energy,
Inc. (NasdaqGM:FCEL), a leading manufacturer of high efficiency ultra-clean
power plants using a variety of fuels for commercial, industrial and utility
customers, today announced that the Connecticut Clean Energy Fund (CCEF)
has screened and selected six energy projects, incorporating 68 megawatts
(MW) of the company's fuel cell products.
The state's two electric distribution
companies will review CCEF's recommendations and perform additional analyses
leading to their selection of the projects to receive long-term power purchase
agreements. Under the 2003 state energy act, the utilities are required
to enter into long term power purchase agreements with developers to purchase
not less than 100 MW of Class I renewable energy.
Specific FuelCell Energy projects
selected by CCEF include:
* ERG Milford, LLC -- A 7.9
MW DFC-ERG(tm) project that pairs 7.2 MW
of DirectFuel Cell(r)
(DFC(r)) power plants with a 1.5 MW pipeline
turbo expander.
FuelCell Energy is partnered with Enbridge, Inc.
(NYSE:ENB - News) and
Southern Connecticut Gas Company for the project
which is expected to
achieve an electrical efficiency of
approximately 60 percent.
When natural gas is transferred from
transcontinental pipelines
to local distribution pipelines, the gas
cools. The DFC-ERG
system will capture the heat byproduct from
FuelCell Energy's DFC3000
fuel cell and use the heat to warm the
gas to its proper distribution
temperature. Excess power from the
DFC-ERG system will
be exported to the grid.
* Elemental Power Group --
Danbury -- A 19.6 MW project consisting of
8 DFC power plant units
which incorporate organic rankine cycles to
convert excess thermal
energy from the fuel cells to deliver
additional low-emissions
electrical output. Achieving an electrical
efficiency of over
47 percent, the project will deliver electrical
grid power to Connecticut
Light and Power for the southwestern part
of the state. Elemental
Power Group, LLC, an entity formed by
Marubeni Power of New
York and Catamount Energy of Vermont are the
developers for this
project.
* Hospital Energy Development
LLC./EMCOR -- A 4.6 MW project for
Stamford Hospital will
use 2 DFC3000 power plants in a combined heat
and power application
providing lower cost thermal energy to the
hospital as well as
ultra-clean electricity to the utility grid. The
project is expected
to achieve a combined heat and power efficiency
and will be developed
by EMCOR Energy Services and Hospital Energy
Development LLC.
* Hospital Energy Development,
LLC./EMCOR -- A 2.3 MW project for
Waterbury Hospital
that will use 1 DFC3000 power plant in a combined
heat and power applications
providing lower cost thermal energy to
the hospital as well
as electricity to the grid. The project is
expected to achieve
a combined heat and power efficiency of over 60
percent.
* Elemental Power Group --
Bridgeport -- A 19.6 MW project consisting
of 8 DFC power plant
units which incorporate organic rankine cycles
to convert excess thermal
energy from the fuel cells to deliver
added low-emissions
electrical output. Achieving an electrical
efficiency of over
47 percent, the project will augment electrical
grid power provided
by United Illuminating Company for the
southwestern part of
the state. Elemental Power Group, LLC, an
entity formed by Marubeni
Power of New York, and Catamount Energy
of Vermont are the
developers for this project.
* Bridgeport Fuel Cell Park
-- A 13.7 MW project consisting of 6
DFC3000 power plants
that will deliver power to the United
Illuminating Company
in an area key to easing the power-constraint
challenges in southwestern
Connecticut. The project is using a
remediated brownfield
site in a key urban development area. Project
participants include
FuelCell Energy, PurePower, LLC and Pinpoint
Power, LLC.
Timothy Bowles, Chairman of the Connecticut
Clean Energy Advisory Committee, said, ``We were extremely pleased with
the quality of the projects that were submitted to CCEF for consideration
under Round 2 competition. It was a challenge to narrow down the field
to the 11 that we selected, and it is our hope that the utilities will
move forward with long-term contracts with all of the projects. If all
11 projects are indeed launched, Connecticut's citizens will benefit from
the implementation of clean electricity generation on a significant scale.''
``These recommendations demonstrate
Connecticut's leadership in advancing superior renewable ultra-clean energy
solutions and in particular recognizing the value of the multi-MW projects
we proposed,'' said R. Daniel Brdar, Chairman and CEO of FuelCell Energy.
``These selections are a major milestone for the whole industry, firmly
establishing fuel cells' role in deploying ultra-clean energy capacity.
With their 24/7 reliability, fuel cells can solve electric grid congestion
while reducing the need for new transmission and distribution investment.
Our fuel cells provide this power with virtually no emissions, quietly
and economically.''
In a formal vote on Monday, March
26, 2007, the CCEF selected the sites under Connecticut's Project 100 Program.
Established under state law, Project 100 provides contracts with terms
of 10 to 20 years for power projects -- providing a predictable revenue
stream for project developers and financiers. Project 100 proposals were
submitted to the CCEF pursuant to a competitive bidding process and selections
were made based on the technical attributes and cost of the various proposals.
Brdar continued, ``The sales value
of these projects to FuelCell Energy is more than $200 million if all projects
are accepted. This volume will enable additional cost reduction and the
expansion of our facilities in Connecticut and other locales.''
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