FuelCell Energy Announces Grid Resiliency Project with PSEG Long Island
April 05 2017 - 8:30AM
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in
delivering clean, innovative and affordable fuel cell solutions for
the supply, recovery and storage of energy, today announced the
execution of a power purchase agreement (PPA) with PSEG Long Island
to supply an existing electrical substation with the electricity
generated by a SureSource 1500™ fuel cell plant. This project
is part of the Clean Renewable Energy Feed-In Tariff II
program. The fuel cell plant will be located at an industrial
operation on Long Island, New York that will utilize the high grade
heat for their production process, reducing both their operating
costs and their emissions.
“We are pleased to deliver this clean and affordable energy
solution to support Long Island’s electric grid with predictable
power that avoids harmful emissions, operates quietly, and uses
minimal land,” said Chip Bottone, President and Chief Executive
Officer of FuelCell Energy, Inc. “Fuel cells are one of the most
land-efficient clean energy technologies qualified under the
New York State Renewable Portfolio Standard, and this project will
help demonstrate the many benefits of integrating fuel cells into
New York’s energy mix.”
Utilizing this fuel cell power plant will avoid the emission of
3,300 tons of CO₂ annually, which is equivalent to the emissions
from 650 cars. Utilizing fuel cells will also reduce smog
producing NOx emissions by five tons per year, and the SOx
emissions, which contribute to acid rain, by one ton per year, as
well as avoid particulate emissions, benefitting public health.
This project was awarded under the Clean Renewable Energy
Feed-In Tariff (FIT) II program administered by PSEG Long Island,
which supports the adoption of clean on-island power generation to
enhance grid reliability and resiliency. Separately, PSEG
Long Island issued a 40 megawatt FIT IV RFP for fuel cells, for
which FuelCell Energy submitted bids. Results of the FIT IV RFP
have not been announced.
Fuel cells use chemistry to convert a fuel source into
electricity and heat in a highly efficient process that emits
virtually no pollutants as the fuel is not burned. The
combination of near-zero pollutants, modest land-use needs, and
quiet operating nature of these stationary fuel cell power plants
facilitates installation in urban locations where the power is
used. Customers benefit with operating cost reductions
delivered in a manner that supports sustainability goals and
enhances power reliability. With high availability and capacity
factors, fuel cell power plants make meaningful contributions to
Renewable Portfolio Standard targets.
About FuelCell EnergyFuelCell Energy
(NASDAQ:FCEL) delivers efficient, affordable and clean solutions
for the supply, recovery and storage of energy. We design,
manufacture, undertake project development, install, operate and
maintain megawatt-scale fuel cell systems, serving utilities,
industrial and large municipal power users with solutions that
include both utility-scale and on-site power generation, carbon
capture, local hydrogen production for transportation and industry,
and long duration energy storage. With SureSource™
installations on three continents and millions of megawatt hours of
ultra-clean power produced, FuelCell Energy is a global leader with
environmentally responsible power solutions. Visit us online
at www.fuelcellenergy.com and follow us on Twitter.
SureSource, SureSource 1500, SureSource 3000, SureSource 4000,
SureSource Recovery, SureSource Capture, SureSource Hydrogen,
SureSource Storage, SureSource Service, SureSource Capital,
FuelCell Energy, and FuelCell Energy logo are all trademarks of
FuelCell Energy, Inc.
Contact: |
FuelCell Energy,
Inc.Kurt Goddard, Vice President Investor Relations
203-830-7494ir@fce.com |
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Source:
FuelCell Energy |
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