Commercial, Demand Management, Distributed Energy Resources, Energy Storage, Microgrids, Power Prices - January 13, 2016
Morgan Stanley to install Bloom fuel cell system at NYC headquarters
Morgan Stanley recently announced that Bloom Energy will install a fuel cell system at the bank's global headquarters in New York City.
The fuel cell project at 1585 Broadway is expected to be fully operational in late 2016, at which point it will provide approximately 750 kW of high-quality power to the Morgan Stanley building twenty-four hours a day, seven days a week.
Bloom Energy said in a news release that its solid oxide fuel cell technology converts fuel into electricity through a high efficiency non-combustion process that generates clean and reliable on-site power, reducing emissions of greenhouse gasses compared to traditionally generated and transmitted electricity.
"Morgan Stanley is committed to investing in technologies that minimize our impact on the environment," the firm's Chief Operating Officer Jim Rosenthal said in the release. "Following on the success of our fuel cell installation in Purchase, New York, this project further exemplifies how we can improve the sustainability and resiliency of our facilities, while controlling costs and being responsible to our business, our shareholders and our planet."
The New York State Energy Research and Development Authority, or NYSERDA, supported the project through a long-term renewable energy credit contract awarded under the state's Renewable Portfolio Standard main tier program to develop renewable energy projects.
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