FuelCell to build fuel cell power park in South Korea

FuelCell Energy Inc. (Nasdaq: FCEL) said it is planning to build a 58.8 MW stationary fuel cell park in South Korea. The fuel cell park will use 21 fuel cell power plants sold by Posco Energy and will be based on designs and fuel cell components from FuelCell Energy.

Gyeonggi Green Energy Co. Ltd. Will develop and operate the park. The ownership consortium includes Korea Hydro & Nuclear Power Co. Ltd. With 49 percent ownership, Posco Energy with a 15 percent share, Samchully Co. with another 15 percent share and the remaining 21 percent ownership to financial investors.

Construction on the project is expected to begin in 2012.

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