World’s largest fuel cell park heads toward regulatory decision
December 15, 2015Developers pitch five, 240MW CT clean energy projects
February 8, 2016
Soon to be home to the world’s largest fuel cell park, Beacon Falls town officials voted last week to approve a tax stabilization deal with the park’s developer.
Beacon Falls Energy Park LLC, a subsidiary of Torrington’s O&G Industries, said the deal provides it with certainty on the amount of taxes it will pay to the town, allowing it to submit a more competitive bid for a multi-state renewable energy request-for-proposals. The RFP includes Connecticut, Rhode Island and Massachusetts. The deal will also help facilitate financing, the developer said.
The 23-year deal will mean nearly $50 million in taxes for the town of Beacon Falls. That makes the 63.3-megawatt park the town’s largest taxpayer.
Construction is slated to begin this year and conclude in 2019.