FuelCell Energy Announces Agreement to Sell University Fuel Cell Project to NRG Energy

-- NRG Energy has entered into an agreement to purchase FCE's previously announced 1.4 megawatt fuel cell power plant project at University of Bridgeport -- NRG Energy will acquire long-term power purchase agreement for clean and efficient distributed power generation with predictable cash flows

DANBURY, Conn., Sept. 9, 2014 -- FuelCell Energy, Inc.

(Nasdaq:FCEL), a global leader in the design, manufacture, operation and
service of ultra-clean, efficient and reliable fuel cell power plants, today
announced an agreement to sell its previously announced
1.4 megawatt fuel cell power plant project at the University of Bridgeport
to NRG Energy. The ownership of the project will transfer to NRG Energy upon
substantial completion of construction and is also subject to customary
closing conditions. The University of Bridgeport will buy the electricity
and heat produced by the fuel cell power plant under a multi-year power
purchase agreement (PPA). FuelCell Energy developed the project and is
currently in the process of building the power plant. FuelCell Energy will
continue to perform operation and maintenance services for the project after
the sale and over the life of NRG's multi-year PPA with the University.
Commercial operation is expected no later than early 2015.

"NRG is continuously looking to grow our portfolio of distributed generation
assets that provide customers with cleaner, sustainable, and more resilient
ways to meet their energy needs," said Mauricio Gutierrez, Chief Operating
Officer, NRG Energy, Inc. "The FuelCell Energy installation meets that
criteria, and importantly, increases our customer resilience and
sustainability."

"This transaction highlights our business model as we develop projects,
install the power generation, operate and maintain the plants, and partner
with NRG Energy to own the asset and sell the value streams,"
said Chip Bottone, Chief Executive Officer, FuelCell Energy, Inc. "This
project investor approach is a market-enabling repeatable model providing
the benefits of affordable and clean on-site power to the end-user without
the need for the end-user to invest directly in the power generation asset.
And, we expect this structure to help accelerate transactions, particularly
for non-profit entities such as universities, hospitals, and municipal
government agencies."

Fuel cell power plant installations such as this project are particularly
attractive to Universities for a number of reasons,
including:

-- Combined heat and power enhances the economics and supports
sustainability initiatives
-- Micro-grid capable, such as this installation, provides energy security
for the campus as it provides approximately 80% of the university's
energy
-- The fuel cell power generation process supports sustainability
initiatives and facilitates the air permitting process due to its
minimal
air emissions
-- Fuel cells provide continuous power that is not dependent on the time
of
day or weather
-- Power is generated in a highly efficient process with a low carbon
footprint
-- The quiet and vibration free operation of fuel cell power plants
combined
with modest space requirements and minimal emissions allows the plants
to
be located next to occupied buildings

About FuelCell Energy

Direct FuelCell(R) power plants are generating ultra-clean, efficient and
reliable power at more than 50 locations worldwide. With more than
300 megawatts of power generation capacity installed or in backlog, FuelCell
Energy is a global leader in providing ultra-clean baseload distributed
generation to utilities, industrial operations, universities, municipal
water treatment facilities, government installations and other customers
around the world. The Company's power plants have generated more than 2.7
billion kilowatt hours of ultra-clean power using a variety of fuels
including renewable biogas from wastewater treatment and food processing, as
well as clean natural gas. For more information, please visit
www.fuelcellenergy.com

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