Constellation, a subsidiary of Exelon Corp. (NYSE: EXC), and Bloom Energy on Aug. 12 announced an agreement to develop 40 MW of Bloom Energy fuel cell projects for commercial and public sector customers in California, Connecticut, New Jersey and New York.
Constellation will provide equity financing and own a majority equity interest in Bloom Energy Servers at more than 170 sites for customers, including AT&T, the City of Hartford, Conn., and Walmart, among others. The projects require no upfront capital from customers, who will purchase the power generated by the fuel cells under 15-year power purchase agreements.
“Bloom Energy and Constellation are ideally suited to work together to deliver reliable and cost-effective energy solutions to customers,” said Bill Thayer, executive vice president of sales at Bloom Energy. “This new portfolio continues to extend the benefit of Bloom’s technology to a wider range of customers.”
“Walmart currently has more than 40 installations with Bloom Energy, and through this partnership with Constellation, we are looking forward to expanding our Bloom deployments into new territories,” said David Ozment, senior director of energy at Walmart.
Hartford Mayor Pedro E. Segarra said, “The City of Hartford benefits from this partnership by creating Connecticut’s first public-private microgrid.”
The portfolio of customer projects builds on Exelon’s 2014 equity investment in 21 MW of Bloom Energy Servers and supports the growth of Constellation’s distributed energy business, which has more than 300 MW of assets in operation or under development.
“This next step in our alliance with Bloom Energy enables customers to achieve their business objectives around energy supply,” said Gary Fromer, senior vice president of distributed energy at Constellation. “As a competitive energy supplier and a strong advocate of customer choice and innovation, Constellation aims to provide flexibility and support for our customers who require distributed generation and other dedicated energy technologies as part of their overall energy strategy.”
Constellation and Bloom Energy plan to complete the installations in phases by the end of 2016. Bloom Energy Servers use solid oxide fuel cell technology to produce electricity from natural gas.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation’s family of retail businesses serves more than 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100.
Bloom Energy is a provider of breakthrough solid oxide fuel cell technology generating clean, highly efficient onsite power from multiple fuel sources. Bloom Energy Servers are currently producing power for many Fortune 500 companies. The company is headquartered in Sunnyvale, California.