| DANBURY, Conn.
-- FuelCell Energy, Inc. (NasdaqGM:FCEL - News), a leading manufacturer
of ultra-clean efficient power plants for commercial, industrial and utility
customers, today announced that the two Connecticut utilities, Connecticut
Light & Power and United Illuminating, have submitted the results of
Round 2 of the contract procurement under the Connecticut General Statutes
section 16-244c(j)(2) program, generally known as Connecticut Project 100.
The utilities submitted all of FuelCell Energy's 68 MW of clean energy
projects for consideration by the Connecticut Department of Utility Control
(DPUC), which is expected to render its decisions on the projects by December
2007.
Connecticut's statute requires that
the state's utilities have not less than 150 MW of clean energy generation
under contract. As part of the process, the Connecticut Clean Energy Fund
chose six FuelCell Energy projects totaling 68 MW last March. According
to the DPUC schedule posted on its website, the DPUC will now review the
contracts and render final decisions before the end of the year. After
the DPUC decisions, electricity purchase agreements will be finalized between
the utilities and the project developers.
``This outcome is a significant milestone
for our company demonstrating the merits of our fuel cell power plants,''
said R. Daniel Brdar, Chairman and CEO of FuelCell Energy. ``With their
24/7 reliability, fuel cells can solve electric grid congestion while reducing
the need for new transmission and distribution investment. Our fuel cell
power plants are quiet and emit reduced CO2 greenhouse gas compared to
fossil fuel power plants, and only negligible amounts of pollutants such
as NOX and SOX.''
The Connecticut legislature recently
increased the state's Renewable Portfolio Standard from 10 percent clean
energy sources by 2010 to 20 percent by 2020 or approximately 850 MW.
``Connecticut's energy legislation
and Project 100 demonstrate Connecticut's continued leadership in promoting
clean energy,'' Brdar said. ``The state is well on the way to achieving
its goal of 20 percent clean energy production by 2020.''
FuelCell Energy's Direct FuelCell(r)
(DFC)(r) power plants convert natural gas into ultra-clean electricity.
Fuel cells also generate high-grade heat that can be used to provide heating
and cooling. The company's 2.4 MW DFC3000 power plants can reach up to
80 percent system efficiency for combined heat and power applications.
``Not only are ultra-clean fuel cells
good for our environment but these projects will enable the expansion of
jobs and manufacturing facilities in Connecticut,'' Brdar said. The sales
value of the 68 MW of projects totals approximately $200 million.
The projects that the utilities submitted
to the DPUC included:
* 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 Commpany
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.
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 60 locations
worldwide. The company's power plants have generated more than 180 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 U.S. 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 http://www.fuelcellenergy.com.
|