Output Performance Warranty for Bridgeport Fuel Cell Park

08 Jan 2013

PylonEnergi, which provides energy insurance products; People’s United Insurance Agency; and Hannover Re, have announced that they have finalised coverage for the 14.9 MW Bridgeport Fuel Cell project located in Connecticut, which will soon be the largest fuel cell park in the USA.

Developed and manufactured by FuelCell Energy, Inc. and owned by Dominion, the project has been in development for six years and is slated to start producing electricity in December 2013. Energi, along with their partner Hannover Re (HRE), specifically developed the Output Performance Warranty (OPW) Program that will provide coverage of the system’s production for the project.

“The Output Performance Warranty Program helps to convey the confidence that we have in our ultra-clean fuel cell power plants and their ability to provide power in a cost-effective manner for years to come,” said Michael Bishop, Chief Financial Officer, FuelCell Energy, Inc. “The Energi team analysed the technology and performance history of our fuel cell power plants in a very detailed fashion before granting this coverage so we are pleased to have this independent review of our products and welcome the opportunity to be working with Energi and Hannover Re.”

Bryan Garcia, President of the Connecticut Clean Energy Finance and Investment Authority (CEFIA), has said that the OPW warranty insurance product for the Bridgeport Fuel Cell Park reduces technology performance risk over the life of the project and allows CEFIA to provide longer-term and lower-cost capital support.

Source: taken from Energi press release

Photo: Yoshizumi Endo/Flickr


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