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 the Connecticut Municipal Electric Energy Cooperative (CMEEC) for the long-term supply of power to the U.S. Navy Submarine Base in Groton, Connecticut. CMEEC is owned by six municipal utilities: Groton Utilities, Norwich Public Utilities, Jewett City Department of Public Utilities, Bozrah Light and Power, South Norwalk Electric and Water and Norwalk Third Taxing District. CMEEC will be acting through and working with Groton Utilities to implement the new power supply. This PPA execution follows a previously announced letter of intent. FuelCell Energy will install and operate the fuel cell installation.
“This project ensures our customer, the U.S. Navy, of long-term cost effective power delivered on the Base to ensure power to critical infrastructure, and delivered cleanly,” said Drew Rankin, Chief Executive Officer, Connecticut Municipal Electric Energy Cooperative. “The fuel cell plants will also be configured for grid-independent operation to ensure resilient power for critical Navy infrastructure.”
“Energy expenses are the single largest cost for Navy installations, reflecting about 28 percent of Navy's shore budget,” said Capt. Paul Whitescarver, commanding officer of the submarine base. “These fuel cells serve as another milestone as the Base continues to pursue the future development of a micro-grid and enhance our power diversification, physical and energy security, and community collaboration.”
“Our fuel cell solutions are compelling as their predictable and clean power generation profile meets resiliency and environmental goals simultaneously,” said Chip Bottone, President and Chief Executive Officer, FuelCell Energy. “Additionally, this project is structured so that the U.S. Navy enjoys the many benefits of clean on-site power generation while continuing to work with its local and trusted utility under a pay-as-power-is-produced model.”
Two SureSource 4000TM power plants with total output of 7.4 megawatts will be located on the U.S. Submarine Base in Groton, Connecticut, to supply an existing electrical substation. The fuel cell plant is part of a multifaceted plan by CMEEC to provide new power resources and support the desire of the Department of Defense to add resiliency and grid independence to key military installations.
The Connecticut Municipal Electric Energy Cooperative or CMEEC is a public power entity that provides electric services to several municipal utilities and participating wholesale customers. The municipal utilities, in turn, provide electricity to roughly 100,000 residential, commercial/industrial and small business customers located in New England. CMEEC is headquartered in Norwich, Connecticut.
Naval Submarine Base New London is the U.S. Navy’s first permanent, continental submarine base and is the home port for 15 attack submarines. The base hosts more than 70 tenant commands and employs some 9,500 active duty, reserve and civilian personnel.
Fuel cells utilize a highly efficient electro-chemical process to convert a fuel source into electricity and heat, avoiding the emission of 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.
Source: FuelCell Energy
Date: Oct 20, 2017