trending Market Intelligence /marketintelligence/en/news-insights/trending/xdQx8RI2vVPo9wtxhVZ1ug2 content esgSubNav
In This List

FuelCell Energy signs 7.4-MW power contract for NY project

Blog

Funding Social and Affordable Housing: A Credit Perspective

Blog

Global M&A By the Numbers: Q2 2021

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Over 150 state-level energy-related measures enacted during Q2'21


FuelCell Energy signs 7.4-MW power contract for NY project

FuelCell Energy Inc. signed a long-term power purchase agreement for a 7.4-MW fuel cell project in Yaphank, N.Y.

The 20-year contract is the first of three long-term power contracts awarded to FuelCell under the Fuel Cell Resources Feed-In Tariff IV program administered by PSEG Long Island LLC, according to a Dec. 20 news release.

The projects will sell power to Long Island Power Authority. The other two projects are also in Yaphank: an 18.5-MW project at the Brookhaven Rail Terminal and a 13.9-MW project at an industrial park.

FuelCell Energy said it expects to complete the necessary prerequisite items in the near term that will allow for the execution of power contracts for the remaining 32.4 MW of projects.

"One of the most space-efficient clean energy technologies qualified under the [New York Clean Energy Standard], this project, along with the other two FIT IV projects that are nearing this same stage of development, demonstrate the many benefits of integrating clean and predictable fuel cells into New York's energy mix," FuelCell Energy President and CEO Chip Bottone said.

PSEG Long Island is a subsidiary of Public Service Enterprise Group Inc.