Intelligent Energy, the energy technology company, announces that it has achieved 10MWh milestone of fuel cell power delivered to Indian telecom sites
· The company has generated over 10MWh of clean and efficient back up power to telecom towers in India which is equivalent to powering approximately 20,000 UK homes for an hour. This significant power output is indicative of the maturity of the technology
· This follows the recent Competition Commission of India's approval of Intelligent Energy's planned purchase of contracts from GTL Limited to supply energy management services to over 27,400 telecom towers via its wholly owned Indian subsidiary, Essential Energy, with contracted revenues of £1.2 billion over ten years
· Since beginning the deployment of fuel cell units on a limited number of the sites, Essential Energy has successfully increased the up time of the telecom towers to nearly 100%, solving a significant structural issue. It has also removed 55 tons of harmful CO2 from the environment released by the diesel generators previously used to provide power
· These initial results demonstrate that the technology is robust and performing well in the field at scale
· This deal is understood to be facilitating the largest deployment of fuel cells in history. These early results give the Company further confidence of hitting the medium term target to manage power for 125,000-135,000 towers of which a majority of sites are expected to be powered by fuel cells over a number of years
· There is an extensive opportunity for growth in the Indian telecom market with the current estate representing just 6% of the total. This deal is a powerful reference point for future transactions of this ilk both in India and elsewhere
· The technology being utilised is demonstrative of Intelligent Energy's 'design once, deploy many times philosophy', with the modular distributed power and generation fuel cell product using technology that IE has developed over a number of years in its automotive division. This is the same technology the Company has licensed to Suzuki to adopt in its fuel cell powered Burgman scooter
AI
