December 27, 2006
Laidlaw to sell renewable energy credits in Mass
By Staff
Laidlaw Energy Group Inc. will be able to sell renewable energy credits in Massachusetts as the result of state approval of its Ellicottville, NY Biomass Project. The Massachusetts Division of Energy Resources determined that Laidlaw’s Wellons biomass energy system, installed within the biomass energy project, qualifies as “advanced, lower emission, power conversion technology.”
Laidlaw states that Massachusetts has some of the most stringent requirements for renewable generator eligibility in the country, as well as some of the most favorable REC prices. It is expected that Laidlaw Energy’s Ellicottville project, which uses woody biomass fuel, will now set the standard in Massachusetts for biomass projects under 10 megawatts seeking eligibility. RECs generate a separate source of revenue for power plants and represent a premium paid to renewable-energy generators by retail suppliers to demonstrate compliance with state-mandated renewable energy targets, Laidlaw said.
Laidlaw Energy President & CEO Michael Bartoszek states, “The ability for the Ellicottville facility to sell RECs in Massachusetts, in addition to New York, gives us a much larger market and the opportunity for significant additional revenue if prices remain high in Massachusetts due to the renewable energy supply/demand imbalance.”
Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources.
Laidlaw states that Massachusetts has some of the most stringent requirements for renewable generator eligibility in the country, as well as some of the most favorable REC prices. It is expected that Laidlaw Energy’s Ellicottville project, which uses woody biomass fuel, will now set the standard in Massachusetts for biomass projects under 10 megawatts seeking eligibility. RECs generate a separate source of revenue for power plants and represent a premium paid to renewable-energy generators by retail suppliers to demonstrate compliance with state-mandated renewable energy targets, Laidlaw said.
Laidlaw Energy President & CEO Michael Bartoszek states, “The ability for the Ellicottville facility to sell RECs in Massachusetts, in addition to New York, gives us a much larger market and the opportunity for significant additional revenue if prices remain high in Massachusetts due to the renewable energy supply/demand imbalance.”
Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources.
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