Capstone Turbine (NASDAQ:CPST) Secures Order for New Clean Energy Microgrid Redevelopment Project in the Caribbean
The Order Marks the Third Microgrid Project in the U.S. Virgin Islands
VAN NUYS, CA / ACCESSWIRE / January 28, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading manufacturer of clean technology microturbine energy systems, announced today that it has received an order for four C65 Capstone microturbines for a leading real estate developer of the Estate Donoe Redevelopment Project in St. Thomas, U.S. Virgin Islands (USVI). E-Finity Distributed Generation (www.e-finity.com), Capstone's exclusive distributor for the Mid-Atlantic, Southeastern United States, and parts of the Caribbean, secured the order, which is expected to be commissioned by September 2021.
"We continue to see the rise of microgrids or decentralized groups of electricity sources and loads that operate connected to the grid and those that operate in standalone or island mode as we see in this project," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "Energy resilient microgrids are an excellent way for customers to reduce their cost of energy, while at the same time reducing their carbon footprint," added Mr. Jamison.
The redevelopment project consists of a new public housing community, offering 84 apartments across 14 buildings on 10.6 acres of land. Funding for the project was provided in part by federal Community Development Block Grant Disaster Recovery funds to support unmet needs in housing, infrastructure, and economic revitalization following hurricane disasters. The housing community redesign features increased energy efficiency, reduced emissions, and improved resiliency while meeting National Green Building Standards (NGBS).
An on-site microgrid will feature four propane-fueled C65 Capstone microturbines, a 1,247-kWh battery energy storage system, and 584 kW of solar photovoltaic cells, which, when paired with E-Finity's mTIM controller, creates the "perfect balance" microgrid solution. The microturbine-powered energy solution will provide 100% of the development's power, independent of the local utility grid.
The Eastern Caribbean location of the Virgin Islands makes the area vulnerable to short and long-term physical and economic damage from storms, earthquakes, and hurricanes. These events can subsequently result in grid outages. With the built-in resiliency of Capstone's microturbines, customers can benefit from high reliability along with seamless and continuous operation.
"The combination of these technologies creates the ‘perfect balance' microgrid providing ownership with one of the lowest cost and most reliable source of power available," said Jeff Beiter, Principal of E-Finity Distributed Generation. "Our in-house applications team continues to deliver outstanding systems integration resulting in peak power plant performance," added Mr. Beiter.
Now more than ever, customers recognize the need to reduce the operational risks of grid outages caused by unpredictable weather. Recognizing resilience as a key component to economic infrastructure development, customers are finding E-Finity's microturbine energy solutions to be excellent candidates for on-site power generation in the Caribbean.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: firstname.lastname@example.org. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 tons of carbon.
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Released January 28, 2021