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
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
