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MHT's Efrain Viscarolasaga: Preparing the smart grid for more power
The $20 million fuel cell project proposal aimed at bringing 3.4 megawatts of power to the state of Connecticut through power utility Connecticut Light and Power, has been approved, according to an announcement from project developer Elemental Power Group LLC of Maryland.
Dubbed the "Cube" by Elemental Power, the project was filed with the state under the Connecticut Clean Energy Fund’s "Project 150," an initiative aimed at increasing clean energy supply in Connecticut by at least 150 megawatts of installed capacity. The equipment for the project is being supplied by Danbury-based fuel cell technology developer FuelCell Energy Inc.
Once completed, the project is expected to provide 3.5 megawatts of baseload power, or enough to power 2,600 homes for 20 years, according to figures from Elemental Power. The project is expected to be operational in late 2010.
According to Elemental Power, the project will inject approximately $20 million into the local economy during its nine-month construction, and another $2 million each year to the local economy in operating expenses, tax payments and other purchases.
FuelCell Energy specializes in direct fuel cells for stationary power applications. The company was founded in 1969, and officials report the company’s products have generated more than 200 million kilowatt hours of electricity and are installed at more than 40 locations around the world.
The company went public in 1992 and reported $100 million in revenue in its fiscal year 2008, which ended last October. While the revenue represents an almost 100 percent jump over 2007, the company also reported a $93 million net loss in 2008. FuelCell Energy employs 534, according to its last annual report.
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