FuelCell Energy Inc (FCEL)

[XenaLives]

Doesn't NYC have some sort of a green building code going into effect?

On page 2 -

FCEL submitted in excess of 40MW of fuel cell projects to an RFP issued by The Public Service & Enterprise Group (PSEG) that serves Long Island and other parts of New York in January this year. On the FCEL’s March 9th conference call the company mentioned that award decisions for this RFP are expected by July – but they could hear something a lot sooner. These projects are estimated to represent ~$400 million in potential product and service backlog for FCEL if all were awarded. Note, this RFP was issued for ONLY for utility-scale fuel cell projects. PSEG is looking to add natural gas fuel cells near a number of existing electric substations in their highly populated service area. Natural gas fuel cells which run 24/7 are easily sited within city limits and with a small foot print are ideally suited for this market. Note, if FCEL strikes out on this RFP and the awards were to all go to competitors – primarily Bloom Energy and Doosan Fuel Cells - it would be a “shock” and a negative development as FCEL boasts industry leading efficiencies and products specifically targeted at this market opportunity.

https://canaccordgenuity.digitalagent.ca/documents/21419/23566/FCEL+Report_MAR+17+2017.pdf/3a50aea3-ca22-43d8-9f89-48372bc6a93b?hootPostID=a299a5e2af34f8fe80ded09f4dbcc2bc