Danbury, CT (GLOBE NEWSWIRE) - 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 Energy
FuelCell 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.
© 2017 GlobeNewswire, Inc. All Rights Reserved.
SOURCE: FuelCell Energy, Inc.