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Clean Energy Fund Teams up with enXco to Build Pipeline of Wind Energy Projects

(Rocky Hill, CT, November 27, 2001) — The Connecticut Clean Energy Fund (CEF), a renewable energy investment fund administered by Connecticut Innovations, today announced it has provided funding to create a new company with wind developer enXco. The newly formed company, Northeast Renewable Energy, LLC, (NRE) will concentrate on finding optimal wind sites in New England as well as to build a pipeline of potential wind energy projects.

Working with CEF to manage the venture, will be enXco, a wind power developer and leading provider of asset management services to the wind industry, with projects and offices in the United States, Denmark, Germany, United Kingdom, France, Sweden, India and Australia. enXco recently opened a development office in South Burlington, Vermont that is staffed with experienced wind and independent power professionals, including those who led the effort to build the six MW wind facility in Searsburg, Vermont, the largest in New England.

Wind energy is one of the most cost-effective, renewable technologies available today. Across the Midwest and West, a number of very substantial wind projects are being developed but New England has not yet participated in this rapid expansion. In this regard, the National Renewable Energy Laboratory recently stated, “It appears that New England possesses characteristics that should be leading to commercial-scale wind power development – a reasonable wind resource combined with renewable purchase requirements, substantial state funds available to support renewable development, favorable demographics, retail choice, and favorable conventional energy prices. Yet while much of the nation is undergoing a wind construction boom, New England has been stagnant.”

“It is important that the Clean Energy Fund take proactive steps to increase the deployment and commercialization of wind technology,” said Charlie Moret, CEF’s managing director of investments. Jonathan Winer, Director of enXco’s Vermont office, concurred, saying “Wind power is a good energy resource available in New England. We are very pleased that the Connecticut Clean Energy Fund has chosen to work with us to develop these resources.”

The Connecticut Clean Energy Fund invests in enterprises and other initiatives that promote and develop sustainable markets for energy from renewables and fuel cells that will benefit the ratepayers of Connecticut. The Connecticut General Assembly created the Fund in 1998 as part of legislation deregulating electric utilities and is administered by Connecticut Innovations.

The Fund is currently actively looking for projects in which to invest that meet its mission.

For additional information, please contact Charlie Moret at the CEF (860)563-0015 or Jonathan Winer at enXco (802) 846-1240.