Business Wire
Summary
Scale Microgrids, a vertically-integrated distributed energy company, has acquired a 9.6-megawatt combined heat and power (CHP) fuel cell project in Bridgeport, Connecticut. The project, which is paired with a thermal loop, was acquired pre-construction from NuPower, an Easton, CT-based developer and investor in sustainable energy projects. Investec and MUFG will provide debt financing and Foss & Co will provide tax equity for the project, which Scale will finance as well as build, own, and operate over its lifetime.
HyAxiom, Connecticut’s largest fuel cell manufacturer, will fabricate, install, and operate the fuel cells for the project. These fuel cells will convert natural gas into hydrogen through an electrochemical process, generating combustion-free electricity as well as waste heat which will be captured for use in a 1.6 mile-long thermal loop in Bridgeport’s South end.
“This project is a terrific opportunity to deploy innovative clean energy technology to drive economic, reliability and sustainability outcomes in Bridgeport,” said Julian Torres, Chief Investment Officer at Scale Microgrids. “We’re also proud to work with great in-state companies like NuPower and HyAxiom as we continue to expand our footprint in Connecticut more broadly.”
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