FuelCell Energy Announces $160 Million Contract to Support Hartford Area Grid – Power for Data Center

FuelCell Energy, Inc. (Nasdaq: FCEL), a Connecticut-based global leader in delivering clean, innovative fuel cell solutions for the supply, recovery, and storage of energy, announced that it will build a 7.4 MW fuel cell power plant in Hartford, Conn. The project will deliver Class 1 renewable baseload power to the local grid in support of the state’s Renewable Portfolio Standard.

The power produced by the fuel cell plant will be sold to the local distribution utilities, Eversource and United Illuminating, under a 20-year power purchase agreement (“PPA”). As a PPA, the project is expected to add more than $160 million of future revenue to FuelCell Energy’s generation backlog, a queue of new power generation projects.

Connecticut has been a leader in evolving U.S. energy policy and deployment of clean distributed power generation while modernizing the grid. Once complete, the Hartford project will improve the strength of the public electricity grid in an important load area that serves significant commercial and industrial sections of the region.

FuelCell Energy designs, builds and maintains the world’s largest fuel cell plants used around the world. In Connecticut, the systems are supporting the grid, a microgrid at the US Subbase New London, and various distributed power solutions.

Large project examples include:

• Bridgeport, Conn.: 15 MWs power plant in operation since 2012 supplying Connecticut Light and Power Company.

• Derby, Conn.: 14 MWs power plant in operation since 2023 supplying Eversource and United Illuminating.

• South Korea: The Hwaseong Baran Industrial Complex fuel cell power plant, in operation since 2013, has the capacity to produce 58.8 megawatts of electricity from 42 fuel cell modules that can provide power to about 135,000 homes and generate about 250 billion kilocalories of hot water for heating approximately 20,000 homes annually.

The Hartford project will be another example of FuelCell Energy’s distributed technology and its capability to meet the emerging time-to-power opportunity for microgrids demand in support of large-scale data center growth. The Hartford project is subject to certain customary project development conditions including grid interconnection.