Morgan Stanley announced that Bloom Energy will install a fuel cell system at the company’s global headquarters in New York City’s Times Square area.
The fuel cell project at 1585 Broadway is expected to be fully operational in late 2016 and will provide approximately 750 kW of power to the building. The company’s largest manufacturing site is in Newark.
Last year, Bloom quietly rolled out a new generation of fuel cells that can be installed on rooftops and other areas. The fuel cells can often be transported via the freight elevator.
The fuel cells could open new markets for Bloom, since high-rise buildings often need back-up power sources. Also electric power costs tend to be high in many cities, making the fuel cells more competitive.
In the case of New York City, assistance for the project came from a state energy agency.
“Morgan Stanley is committed to investing in technologies that minimize our impact on the environment,” said Chief Operating Officer Jim Rosenthal. “Following on the success of our fuel cell installation in Purchase, NY, 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 recent Paris Climate Accord calls on government and business leaders to reimagine the way we power the world, and this project in the heart of Manhattan demonstrates how clean distributed energy can be deployed onsite, even in urban areas,” said KR Sridhar, principal co-founder and CEO of Bloom Energy. “We applaud Morgan Stanley for their continued commitment to clean energy as well as Governor Cuomo’s administration and NYSERDA for their work to drive adoption of clean distributed generation.”
Support for this project was provided by the New York State Energy Research and Development Authority (NYSERDA) through a long-term renewable energy credit contract awarded under the Renewable Portfolio Standard (RPS) Main Tier Program to develop renewable energy projects.
“Partnerships between the state and private sector have made New York a global leader in reducing greenhouse gases and advancing clean energy solutions, and will continue to play a vital role in transforming our energy system,” said John B. Rhodes, CEO of NYSERDA said. “This project is an example of how new and innovative technologies will help us achieve Governor Cuomo’s vision of an energy system that is cleaner, more resilient and more affordable for all New Yorkers.”
Bloom Energy currently has over 200 projects across the United States and in Japan, including ten operating projects in New York State.
