By Global Newswire, via CNN Money.
FuelCell Energy, Inc., a global leader in the design, manufacture, operation and service of ultra‐clean, efficient and reliable fuel cell power plants, announced plans for the installation of a 5.6 megawatt fuel cell power generation system for Pfizer Inc., one of the world’s largest biopharmaceutical companies, to provide reliable and low carbon electricity and steam for its 160 acre research and development facility in Groton, Connecticut. Pfizer will purchase the power and steam under a 20 year power purchase agreement that will lead to a reduction in energy costs while enhancing power reliability from on-site power generation. The highly efficient combined heat and power (CHP) fuel cell system will be configured to operate continuously, in parallel with the grid during normal operation and independently supplying electricity to campus loads during grid outages, while supporting Pfizer’s commitment to sustainability with power generation that is low carbon and efficient. The fuel cell installation is expected to be fully operational by summer 2016.
“This power purchase model delivers immediate value while increasing electrical reliability by providing the security of on-site power with a financial structure that avoids an investment in power generation assets, and FuelCell Energy installs, operates and maintains the fuel cell power plants,” said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. “Affordably addressing both energy and sustainability goals is an attractive value proposition offered by FCE.”