FuelCell Energy To Sell Its 1.4 Megawatt Fuel Cell Power Plant To NRG Energy

(RTTNews) - FuelCell Energy, Inc. (FCEL) announced an agreement to sell its previously announced 1.4 megawatt fuel cell power plant project at the University of Bridgeport to NRG Energy (NRG). The ownership of the project will transfer to NRG Energy upon substantial completion of construction. Commercial operations at the power plant is expected no later than early 2015.

The University of Bridgeport will buy the electricity and heat produced by the fuel cell power plant under a multi-year power purchase agreement. FuelCell Energy will continue to perform operation and maintenance services for the project after the sale and over the life of NRG's power purchase agreement with the University.