Bloom Energy in deal to power Amazon datacenter, says RBC Capital

RBC Capital analyst Chris Dendrinos notes that at a Santa Clara city council meeting last week, Silicon Valley Power detailed a proposed 20 MW PPA with Bloom Energy (BE) and separate offtake agreement with AWS (AMZN) that was approved in a 6-0 vote, calling 20 MW offtake agreement “a first step in AWS relocating the 73 MW of capacity from the Oregon site that was canceled.” The firm, which says the agreement highlights how Bloom’s fuel cells can be deployed in a utility setting, has an Outperform rating and $15 price target on Bloom Energy shares.