Executive Insight, Generation

NRG Energy invests in fuel cell power developer

NRG Energy Inc. bought $35 million of stock in FuelCell Energy and extended a $40 million loan to help the power plant developer complete several projects.

NRG now owns about 17 million shares, or 6 percent, of FuelCell Energy. The shares were sold at Tuesday’s closing price of $2.39. Terms of the deal include NRG’s right to purchase an additional 2 million shares at $3.35 per share.

FuelCell and NRG are working together to develop a pipeline of combined heat and power projects.