MARCH 2012

$225 million plainfield renewable energy biomass project launched

Science Applications International Corporation (SAIC) and the Carlyle Energy Mezzanine Opportunities Group (Carlyle) have 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 2 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 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.

“This project is great news for Plainfield, the region, and the state. It will create 400 jobs, bring more than $800,000 per year in tax revenues to the town, and increase the supply of electricity to the region. It represents exactly the type of renewable energy projects that the state should attract,” said the Town of Plainfield First Selectman Paul Sweet.