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January 10, 2012 – Vol.16 No.43 SAIC, Enova Energy Group, The Carlyle Group Launch $225 Million Connecticut Waste Wood Biomass Energy Project. Science Applications International Corporation (SAIC) and the Carlyle Energy Mezzanine Opportunities Group (Carlyle) today announced an agreement to provide financing for construction of the $225 million Plainfield Renewable Energy (PRE) biomass project. SAIC will also provide engineering, procurement, and construction services for the project under a fixed-price, date certain contract. The PRE project is owned by a subsidiary of Enova Energy Group and located on a 27-acre site in Plainfield, Connecticut. The plant will employ Best Available Control Technology (BACT) to control emissions and is fully certified as a renewable power source in the State of Connecticut. The project will create 400 jobs -- 300 during the two-years of construction and 100 direct and indirect permanent positions. The PRE project will generate 37.5 megawatts (net) of clean energy to power the equivalent of 37,000 homes. The project will consume wood readily available from various sources such as construction and demolition (C&D) debris, recycled wood pallets, and land clearing materials. Connecticut Light & Power will purchase power from the plant based on a 15-year off-take agreement, utilizing the plant's status as a renewable power source. The PRE project has all necessary permits to construct the facility and anticipates completion in December 2013.
The New England region has long been a leader in materials recycling, with the PRE project supporting that through the consumption of wood waste to produce renewable energy through a unique, proven and low-risk gasification process. The plant's location is also advantageous as a beneficial re-use of a former Superfund site. SAIC is a scientific, engineering and technology applications company involved in national security, energy & environment, health, and cybersecurity. Enova Energy Group is an independent power producer of clean energy projects. Carlyle has developed expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. (1/9/2012) Links: Enova Energy Group The Carlyle Group
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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