Danbury clean energy manufacturer FuelCell Energy will sell its 1.4 megawatt fuel cell installation at the University of Bridgeport to its business partner, NRG Energy of New Jersey.
NRG Energy, which owns power plants around the country including nine in Connecticut, will take over ownership of the facility once its construction is complete. FuelCell will continue to operate and maintain the project as NRG sells the electricity it produces to the University of Bridgeport.
Financial terms were not disclosed. The fuel cell is expected to go into operation in early 2015.
NRG invested $75 million in FuelCell in August, buying up $35 million worth of stock and providing a $40 million revolving loan fund for FuelCell’s project development.
