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Bloom Energy will have to crunch a complicated set of facts and figures to break even on its new power purchase agreement, Bloom Electron.

Last week, Bloom Energy launched its power purchase agreement business, Bloom Electron, that repositions the startup from fuel cell maker to provider of the power those fuel cells generate. It’s clearly a move to shift technology and price risk away from would-be buyers of Bloom fuel cells and onto Bloom itself. But what is a Bloom Electron worth to Bloom’s customers? And what will those electrons cost Bloom and its financial backers? Bloom isn’t disclosing terms [...]