FuelCell Energy, Inc. (NASDAQ:FCEL) has received final approval from the Connecticut Department of Public Utility Control to build 9 plants that will together generate 27.3 megawatts of electricity. The state issued preliminary approval of the plants last month. The plants are included in Connecticut’s Project 150 which required the state to sign energy purchase agreements for 150 megawatts of clean power.
The value of the project to FuelCell is expected to be $84 million once the purchase agreements are signed and project financing is secured.
FuelCell shares are up more than 8% at $2.84 in pre-market trading this morning. The stock’s 52-week range is $1.98-$10.30.
Paul Ausick
April 9, 2009
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