Bioenergy, Geothermal, Hydropower, Solar, Wind Power

State Clean Energy Fund Anticipates RE Boom

Renewable energy projects are likely to spring up all across Connecticut. The Connecticut Clean Energy Fund (CCEF) announced “Project 100”, a clean energy initiative supporting new landmark legislation promoting the development and funding of Class I renewable energy resources.

The “Project 100” initiative creates an opportunity for clean energy developers, manufacturers and financiers to advance clean energy development projects. This initiative is the result of Connecticut legislation that mandates local electric distribution companies to enter into power purchase agreements for no less than a 10-year period from Class I renewable energy resources. The legislation calls for the contracting of a minimum of 100 MW of clean energy resources by July 1, 2007. Connecticut Clean Energy Fund (CCEF) was established by the Connecticut General Assembly in 1998. CCEF is funded from a surcharge on Connecticut ratepayer’s electric bills. Connecticut Innovations, Inc administers the fund. CCEF invests in clean energy technologies such as biomass, landfill gas, fuel cells, solar, wave and wind and other initiatives consistent with legislative mandates. “Project 100″ creates an unprecedented opportunity for developers, manufacturers, banks and institutional lenders to invest in and construct clean energy generation facilities,” said Lise Dondy, COO of the Connecticut Clean Energy Fund. “The legislation is designed to encourage the financing of clean energy projects, stimulate the demand for new projects, and increase the supply of clean energy for Connecticut.” An Inaugural “Project 100” forum is being scheduled for mid-November. (Location and date to be announced.) The forum will be the first opportunity for interested parties to comment on a draft RFP to be released prior to the forum. The forum is open to developers, financiers, manufacturers, and municipalities and the public is invited. Those interested in receiving the RFP should contact CCEF at the following link.