FuelCell Energy Inc (FCEL)

[fsulevine]

FCEL built and sold the plant to Dominion. About 5 years later, Dominion was needing funds for the acquisition of another small utility and decided to sell the plant to raise those funds. FCEL at that time had decided to own some of their projects to habe a steady stream of money coming in (what became their “generation portfolio”), so they decided to bid on the project and buy it back. That is what happened. They got bad funding for it under their previous CEO, but all that has been taken care of and paid off with better financing that they then paid off entirely selling share ATM during the runup late last year.