Fuel Cell Power Plant at Correctional Institution Achieves Commercial Operation, Cleanly and Affordably Enhancing Power Relia...
January 10 2017 - 8:30AM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in the
design, manufacture, operation and project development of
ultra‐clean, efficient and reliable fuel cell power plants,
announced the commercial operation of a megawatt-class combined
heat and power (CHP) fuel cell plant located at Santa Rita Jail in
Alameda County, California. The fuel cell plant generates
continuous on-site power and heat for the correctional facility,
enhancing power reliability for critical infrastructure while
simultaneously advancing its sustainability goals through the
ultra-clean fuel cell generation process. Under a power purchase
agreement (PPA), Alameda County pays for the power as it is
produced at a cost lower than electric grid prices; achieving cost
savings without any capital outlay. FuelCell Energy retains
the PPA and long-term project cash flows through a direct
subsidiary with financing provided by PNC Energy Capital.
The fuel cell power plant operates in tandem with
Santa Rita Jail’s existing solar array, demonstrating the
complimentary features of combining energy sources at the same
location to reduce exposure to peak pricing. The power generated by
the fuel cell plant meets approximately 60 percent of Santa Rita
Jail’s total power needs and the CHP configuration provides heat
for hot water. Total thermal efficiency for this installation
is approximately 68 percent. Generating both power and heat
from the same unit of fuel reduces emissions and fuel usage from
combustion-based boilers; decreasing the County’s carbon footprint
while enhancing the sustainability profile of Santa Rita Jail.
“We are pleased to provide Alameda County with a
reliable, affordable and clean power generation solution that
strengthens its on-site power supply, enhances its sustainability
profile and delivers cost savings,” said Chip Bottone, President
and Chief Executive Officer at FuelCell Energy, Inc. “Our
power plants are appealing for applications such as these and our
access to capital such as the PNC Energy Capital facility enables
us to offer a pay-as-you-go financing structure that further
enhances our customer value proposition.”
FuelCell Energy’s direct subsidiary recently closed
on financing with PNC Energy Capital (“PNC”) through a sale
lease-back transaction. The power purchase agreement (PPA)
structure that is supported by this financing enabled Alameda
County to avoid an upfront investment in the power generation
equipment and, instead, purchase power as it is produced by the
project.
The ultra-clean fuel cell power generation process
avoids combustion and associated pollutants such as nitrogen oxide
(NOₓ) that causes smog, sulfur dioxide (SOₓ) that contributes to
acid rain and particulate matter that can aggravate asthma.
This installation will avoid the emission of approximately 5,800
tons of CO₂/year, when compared to average United States grid,
equivalent to the carbon absorbed by approximately 4,900 acres of
US forest in one year.
About FuelCell EnergyDirect
FuelCell® power plants are generating ultra-clean, efficient and
reliable power on three continents, affordably providing continuous
distributed power generation to a variety of industries including
utilities, commercial and municipal customers. The Company’s
power plants have generated billions of kilowatt hours of
ultra-clean power using a wide variety of fuels including renewable
biogas from wastewater treatment and food processing, as well as
clean natural gas. For additional information, please
visit www.fuelcellenergy.com and follow us on Twitter.
Direct FuelCell, DFC, DFC/T, DFC-H2, DFC-ERG and
FuelCell Energy logo are all registered trademarks of FuelCell
Energy, Inc.
Contact:FuelCell Energy, Inc.Kurt
Goddard, Vice President Investor
Relations203-830-7494ir@fce.com
Source: FuelCell Energy
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