A Danbury-based company has secured millions of dollars in financing for project agreements with utilities. FuelCell Energy has secured $30 million from PNC Energy Capital, a full service capital provider to the renewable energy and demand side management segments of the energy industry.
Company officials say this facility provides long term financing for projects being developed under power purchase agreements. The first project to close under this structure will be a 1.4 megawatt fuel cell power plant which provides both electricity and heat to the University of California, Irvine Medical Center.
The power plant will generate about 30 percent of the facility power needs.