FuelCell Reveals $160 Mln Contract For 7.4MW Power Plant In Hartford, Stock Up

(RTTNews) - FuelCell Energy, Inc. (FCEL), a fuel cell plants builder, Wednesday announced a $160 million contract to build a 7.4 MW fuel cell power plant in Hartford, Connecticut to deliver Class 1 renewable base load power to the local grid.

Through a 20-year power purchase agreement or PPA, the plant aims to support the state's renewable portfolio standard. The power produced by the fuel cell plant will be sold to the local distribution utilities, Eversource and United Illuminating.

FCEL was up by 12.47 percent at $11.69 in the pre-market trade on the Nasdaq.