FuelCell Energy Completes Sale of University Micro-grid Project to NRG Yield

FuelCell Energy reported the closing of its definitive agreement to sell a 1.4-MW fuel cell power plant project at the University of Bridgeport to NRG Energy. Concurrent with the closing, a subsidiary of NRG, NRG Yield, acquired the project; the first-ever fuel cell project placed into any yieldco. The University of Bridgeport will buy the electricity and heat produced by the fuel cell power plant under a multi-year PPA. FuelCell Energy will perform operation and maintenance services for the installation over the multi-year term of NRG Yield's PPA with the University. The power plant construction is mechanically complete and commercial operation is expected in March 2015.