Under the agreement, 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, Connecticut, 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 (PPAs).
Walmart already has more than 40 installations with Bloom Energy and plans to expand its Bloom deployments into new territories.
The City of Hartford will benefit from the partnership by creating Connecticut’s first public-private microgrid, ensuring that essential services in its Parkville neighborhood, including an elementary school, senior center, library branch, gas station and supermarket, remain operational during power outages.
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.
Constellation and Bloom Energy plan to complete the installations in phases by the end of 2016.