Morgan Stanley and Bloom Energy announced the completion of a fuel cell project at Morgan Stanley's global headquarters in New York City's Times Square neighborhood. The 750 kW fuel cell project at 1585 Broadway is fully operational and will provide approximately 6 million kWh of clean electricity each year. Executives from Morgan Stanley, Bloom Energy, Con Edison and New York State Energy Research and Development Authority (NYSERDA) participated in an event to mark the completion of the system.
Bloom Energy's solid oxide fuel cell (SOFC) technology converts fuel into electricity through a high efficiency non-combustion process that generates clean and reliable on-site power, reducing emissions of greenhouse gases and criteria air pollutants compared to traditionally generated and transmitted electricity. The fuel cell project, located on a rooftop setback eight floors above Times Square, was delivered and installed entirely through the building service elevator.
'I congratulate everyone involved in this fuel cell project which is a great example of how businesses can use clean, onsite energy to decrease costs and improve the sustainability and resiliency of their facilities,' said John B. Rhodes, President and CEO, NYSERDA. 'Under Governor Cuomo's Reforming the Energy Vision, New York continues to build a cleaner, more resilient and affordable energy system.'
'We are thrilled to be here today. This project not only provides clean and reliable electricity at Morgan Stanley's headquarters, but also demonstrates how this unique type of behind-the-meter clean energy project can be deployed in urban load centers to reduce carbon emissions, greatly reduce localized forms of air pollution, and improve the efficiency of the surrounding electric grid,' said KR Sridhar, Founder, Chairman and CEO of Bloom Energy. 'Thank you to our utility and state government partners for supporting this project, we look forward to continuing to help New York state meet its clean energy goals.'
Support for this project was provided by NYSERDA through a long-term renewable energy credit contract awarded under the Renewable Portfolio Standard (RPS) Main Tier Program to develop renewable energy projects.
Bloom Energy currently has over 400 projects across the United States, Japan and India, including twenty one operating projects in New York State.