PEABODY, Mass.–(BUSINESS WIRE)–Energi, a leading developer and underwriter of energy insurance programs, participated in the groundbreaking ceremony for the Dominion Bridgeport Fuel Cell Project. Officials and executives were on hand at the project site in Bridgeport, CT to commemorate the start of work for the multi-megawatt fuel cell park, which will be the largest in the United States upon completion.

“In addition to bringing exciting emerging technology to Bridgeport, the new fuel cell plant is promising for the positive impact it can have on both cleaner air and job creation in the state.”

President and CEO Brian McCarthy and senior vice president of Alternative Energy Solutions Kevin Kaminski were among the Energi representatives in attendance, joining Connecticut Governor Dannel P. Malloy, Connecticut state congressional leaders, and senior executives from Dominion and FuelCell Energy as well as Kevin Foster and Bruce Murray from People’s United Insurance Agency.

“The Bridgeport fuel cell plant represents a powerful synergy of private development and public incentives, and the continued maturation of emerging energy technologies,” said Brian McCarthy, Energi CEO. “As these technologies continue to stabilize, the gap between investors’ appetites and risk continues to narrow. Products like the Output Performance Warranty help reduce technology performance risk over the life of the facility and drive investment.”

Energi, along with its partner Hannover Re (HRE), specifically developed the Output Performance Warranty (OPW) Program that will provide coverage of the system’s annual megawatt—hours (MWh) production. The warranty coverage provides risk mitigation for both the owner and manufacturer.

“The renewable energy team at People’s United Insurance is very pleased to have the opportunity to support the Dominion Bridgeport Fuel Cell project,” said Dan Casey, President, People’s United Insurance Agency. “In addition to bringing exciting emerging technology to Bridgeport, the new fuel cell plant is promising for the positive impact it can have on both cleaner air and job creation in the state.”

Developed and manufactured by FuelCell Energy, Inc. (NASDAQ: FCEL) and owned by Dominion (NYSE: D), the 14.9 megawatt (MW) project is a landmark installation and the largest in the United States. The installation, consisting of five DFC3000 fuel cell power plants and an organic rankine cycle turbine is highly efficient and can power approximately 15,000 homes.

“FuelCell Energy has a sizeable and rapidly expanding installed base and extensive operating history of fuel cell power plants. The Energi underwriting was an important aspect of the performance insurance for this installation,” said Chip Bottone, President and Chief Executive Officer of FuelCell Energy, Inc. “We see a trend to larger installations such as the Bridgeport fuel cell park, and performance warranty insurance can be a useful product for Project Owners and Investors of these multi-megawatt sites.”

Construction has begun on the park with the first plant installation to be completed in the summer of 2013 and the remaining plants installed in stages. The fuel cell park will be fully operational by the end of 2013. The fuel cell power plants will use natural gas as the fuel source to efficiently provide ultra-clean power for the electric grid.

About Energi

Energi is a Peabody, Massachusetts-based industrial reinsurance company that provides specialized insurance and risk management products to targeted market segments of the North American energy industry. The core programs include fuel distribution, fuel transport, energy construction, agricultural cooperatives, renewable energy, utilities and oil & gas exploration. Energi also has products that deliver protections for alternative energy and energy efficiency projects. Founded in 2005 by insurance professionals and energy industry leaders, Energi is licensed in all 50 states. For more information, visit www.energi.com.

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PEABODY, Mass.–(BUSINESS WIRE)–Energi, a leading developer and underwriter of energy insurance products, has announced that Senior Vice President Kevin Kaminski will participate in a briefing focused on implementing ESPCs in the commercial and public building market. The briefing will be hosted by the congressional Bipartisan Caucus on Energy Savings Performance Contracts (ESPCs). Kaminski and other experts from building and energy service companies will examine the challenges and enormous opportunity of expanding use of these innovative financing tools to increase energy efficiency for commercial and public buildings.

“By helping to implement energy efficiency and capital improvements with minimal financial cost, these tools democratize cost savings and enable customers to reach energy efficiency goals.”

“ESPCs unlock financing for energy-saving capital improvements by repurposing cost savings into a payment stream for the upgrades,” said Kevin Kaminski, Senior Vice President of Alternative Energy Services at Energi. “By helping to implement energy efficiency and capital improvements with minimal financial cost, these tools democratize cost savings and enable customers to reach energy efficiency goals.”

ESPCs are employed by Energy Service Companies (ESCOs), and have typically been put into use in government buildings at federal, state and local levels. To-date, ESCOs have made $30 billion of infrastructure improvements using ESPCs, saving $50 billion in energy costs. Other panelists contributing to the briefing include: Donald Gilligan, President of the National Association of Energy Service Companies (NAESCO); Mark Wagner, Vice President of Government Affairs at Johnson Controls; David Anderson, Executive Vice President of Business Development at Ameresco.

The bipartisan Energy Savings Performance Caucus was created by Representatives Cory Gardner (R-CO) and Peter Welch (D-VT) to promote the use of ESPCs. Gardner, Welch, and the other eight representatives comprising the committee formed the caucus to expedite the process of applying ESPCs to government buildings across the country, and to utilize other contracting tools to promote energy efficiency at the federal, state and local levels. Based on U.S. Department of Labor data from the construction industry, for every $10 million spent on ESPC projects, 209 direct and indirect jobs are created, in addition to significant savings in energy costs.

ENERGY SAVINGS PERFORMANCE CONTRACTS IN ACTION: SUCCESS STORIES FROM AROUND THE COUNTRY

WHO: Donald Gilligan of the National Association of Energy Service Companies, Mark Wagner of Johnson Controls, David Anderson of Ameresco and Kevin Kaminski of Energi

WHAT:

Panelists will provide attendees with the following:

• Present attendees with a brief overview of ESPCs and their use in the marketplace.
• Examine case studies of successful projects that have been implemented in commercial and public buildings, including the Empire State Building, the City of Miami Beach, the City of Henderson, Nevada and the Virginia Department of Corrections.
• Discuss new financing and insurance options designed to solve traditional market barriers, promote job growth and generate significant energy cost savings.

WHERE:

Room 2203

Rayburn House Office Building

45 Independence Avenue SW, Washington D.C.

WHEN: Tuesday, April 9 from 11:00 a.m. – 12:00 p.m.

About Energi

Energi is a Peabody, Massachusetts-based industrial reinsurance company that provides specialized insurance and risk management products to targeted market segments of the North American energy industry. The core programs include fuel distribution, fuel transport, energy construction, agricultural cooperatives, renewable energy, utilities and oil & gas exploration. Energi also has products that deliver protections for alternative energy and energy efficiency projects. Founded in 2005 by insurance professionals and energy industry leaders, Energi is licensed in all 50 states. For more information, visit www.energi.com.

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