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Connecticut Clean Energy Fund, Under Project 100, Selects Three Renewable Energy Projects

CCEF playing key role in implementing the deployment of 100 MW of Renewable Energy Capacity

Rocky Hill, Conn., December 15, 2005 – The Connecticut Clean Energy Fund (CCEF), a ratepayer fund administered by Connecticut Innovations Inc. (CI), a quasi-public state authority, has screened, selected and forwarded three renewable energy projects to the state’s two major electric utilities, the Connecticut Light and Power Company (CL&P;) and the United Illuminating Company (UI). These two companies will review the CCEF’s recommendations and perform additional analysis leading to long-term Power Purchase Agreements with the projects’ owners. This is the first of a series of steps in Project 100, an innovative program created by the Connecticut General Assembly to develop 100 MW of renewable energy generation for the benefit of all Connecticut consumers.

This groundbreaking legislation was created because renewable energy projects are difficult to finance without long term contracts. Under the 2003 state energy act, Connecticut’s two major utilities are required to enter into long-term power purchase agreements with developers to purchase a minimum of 100 megawatts of Class I renewable energy. In the implementation process, the Connecticut Clean Energy Fund is charged with issuing requests for proposals (RFP’s) from developers, and the initial screening and analyses to select projects that will benefit all of Connecticut’s consumers. After the selection process, the most viable projects are forwarded to CL&P; and UI for further review and contract negotiation.

After review by several working committees and the Connecticut Clean Energy Advisory Board and approval by the Connecticut Innovations’ Clean Energy Committee, the following projects representing a diversity of fuel sources and technologies were selected:

• A 15 megawatt biomass project by GDI Renewable Power in Watertown, Conn.
• A 4 megawatt fuel cell project by PPL Energy Services Holding LLC in Wallingford, Conn., (potentially the largest fuel cell installation in the state and one of the largest in the country) and
• A 15 megawatt wind project by enXco, LLC – Hoosac Wind in Florida, Mass.

This is the first of multiple rounds planned for the implementation of Project 100. All of Connecticut’s citizens will benefit from the implementation of clean, renewable, environmentally friendly electric generation. The installation of 34 megawatts will generate enough clean energy to power about 25,000 average size homes in Connecticut.

“The projects selected will help in both near-term and long-term solutions to the problems of excessive dependence on imported fuels and rapidly-rising energy costs,” said Chandler J. Howard, President and Executive Director, Connecticut Innovations, which administers the Connecticut Clean Energy Fund. “At the same time, Connecticut is demonstrating leadership in technology innovation and sound stewardship by encouraging the development of local renewable, environmentally-friendly energy resources that will also have a positive economic development impact on our state.”

“As an organization dedicated to promoting clean energy, we are honored to play such a pivotal role in implementing the Legislature’s directives,” said Connecticut Clean Energy Fund’s Chief Operating Officer Lise Dondy. “This legislation creates a strong viable market for energy generated by clean and renewable-energy technologies. In doing so, it supports the advancement of an industry vital to our economy, our environment and our quality of life and serves as a national model for the country.”

The Connecticut Clean Energy Fund was created by the Connecticut General Assembly and is administered by Connecticut Innovations. CCEF is promoting the development and commercialization of clean energy technologies and fuel cells and is stimulating markets for electricity from clean and renewable sources. CCEF’s main goals are to create clean energy supply for Connecticut, develop clean energy technologies and educate residents about clean energy’s importance to the state’s energy future. CCEF’s funding comes from a surcharge on electric ratepayers’ utility bills. Connecticut Innovations, Inc. (CI) is a quasi-public organization whose mission is to strengthen the state’s economy by accelerating the growth of a vibrant, high-technology community. Since its inception, CI has invested in excess of 100 companies and projects and has participated with over sixty other investment firms.