FuelCell Energy Sells 5.1 MW of Ultra-Clean Energy to South Korea

FuelCell Energy, Inc. announced that its distribution partner POSCO Power has sold 5.1 megawatts (MW) of new power plants that allow electric utility customers in South Korea to generate clean energy and comply with the country’s strict greenhouse gas reduction targets.

Each of the three projects will operate in a grid-support capacity, supplying energy output directly onto the existing electric network. By increasing the portion of energy generated by renewable and ultra-clean technologies, the utilities are able to achieve emission goals established under directives set by the South Korean government.

Utility customers purchasing the Direct FuelCell® (DFC) power plants through POSCO Power include two generating company (genco) subsidiaries of Korea Electric Power Company (KEPCO), as well as a private Independent Power Producer (IPP) recently formed by investors.

Each power plant purchase will use government funding made available under a green energy program instituted last year by South Korea’s Ministry of Commerce, Industry and Energy.

Earlier this year, FuelCell Energy established a 10-year manufacturing and distribution agreement with POSCO Power to provide DFC power plants in South Korea. POSCO Power, a subsidiary of one of the world’s largest steelmakers, POSCO, announced plans to construct a manufacturing facility for building the balance of plant equipment for FuelCell Energy power plants its sells in Asia.

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