FuelCell Energy to progress its 7.4MW hydrogen fuel cell project with tax equity financing

FuelCell Energy is set to implement 7.4MW of its hydrogen fuel cell technology into a project in New York, US, with the aim to provide zero-emission power to Central Long Island.

This project will be aided by Franklin Park who has just finalised a tax equity financing, totalling ($12.7m) for the project and will now collaborate to make the project a reality.

Michael Bishop, Executive Vice-President and Chief Financial Officer of FuelCell Energy, said, “We are thrilled to team up with Franklin Park, a new tax equity finance partner for FuelCell Energy, with an important financing solution that enables the Company to effectively monetise the investment tax credit associated with this project.

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