FuelCell Energy (FCE) has announced the receipt of a major order from South Korean company POSCO Power. FCE will supply 70 MW of fuel cell kits to POSCO over a two-year period from October of this year, with the total value of the order likely to exceed $129 million and around 40% of the contract value to be received as a down payment by October 2011.

This is the largest ever order for FuelCell Energy, which will now ramp up to annual production of 55 MW. POSCO Power recently completed construction of a fuel cell system manufacturing facility in the city of Pohang, where FCE proprietary fuel cell components are stacked and integrated with the balance of plant. This facility has 100 MW annual capacity.

Source: Fuel Cell Today, Infogrok.com