Rocky Hill, CT (April 24, 2006)-The Connecticut Clean Energy Fund (CCEF) announced today that it has
signed a loan agreement with Norwalk-based Plainfield Renewable Energy, LLC to support that company's predevelopment of a 30-megawatt, wood-fueled, low emissions advanced biomass gasification plant at a facility it plans to build in Plainfield, Connecticut. The loan of up to $500,000 is being provided through the CCEF's Pre-Development Program, which funds the early stages of renewable energy projects that will feed power from clean energy sources into the New England electric grid.
Lise Dondy, chief operating officer of the Connecticut Clean Energy Fund, said, "The Pre-Development Program is designed to support renewable energy projects that will potentially move into the construction phase and operation. Through this program, CCEF provides difficult to obtain funding for financial and interconnection analyses, facility design, permitting and other activities that can accelerate the development of new renewable resources in Connecticut." Detailed information about the Pre-Development Program can be found on CCEF's web site: www.ctcleanenergy.com.
The Plainfield Renewable Energy biomass gasification plant is expected to begin operation in 2008. It will
have a capacity of 30 megawatts, which is the equivalent of enough power to supply the electricity needs of 25,000 households. Additionally, the wood fuel that the plant will use meets the Natural Resources Defense Council's criteria for environmentally acceptable wood fuel. The standards proposed by the Plainfield Renewable Energy project would limit the fuel to unprocessed forest and garden wood residues, clean waste wood that has not been mixed with other solid wastes, and the clean wood component of construction and demolition debris.
The Connecticut Clean Energy Fund was created by the Connecticut General Assembly and is administered by
Connecticut Innovations, a quasi-public organization. CCEF promotes the development and commercialization of clean energy technologies; the creation of clean energy supply; and the demand for electricity from clean, renewable sources in Connecticut in order to strengthen Connecticut's economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF's funding comes from a surcharge on electric ratepayers' utility bills.
Plainfield Renewable Energy, LLC is a joint venture between Decker Energy International, a leading biomass power plant owner and operator, and NuPower, LLC, a Connecticut-based renewable power developer.
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