The facility has met all conditions to qualify as an ISO New England (ISO-NE) market asset and achieved commercial operation under the terms of its interconnect agreement with ISO-NE. The commercially operational plant has also met the eligibility requirements under the American Recovery and Reinvestment Act for a 1603 cash grant.
As one of the only Class 1 renewable biomass plants in the state, the facility will power the equivalent of 37,000 homes using a variety of fuel sources, such as wood from construction and demolition debris, recycled wood pallets and land clearing materials.
Connecticut Light & Power will purchase 80 percent of the power from the plant based on a 15-year off-take agreement, based on the plant’s status as a renewable power source.
Leidos will operate the plant and commence marketing efforts to sell the facility to renewable power plant investors in an effort to maximize the value of the investment for shareholders.
"The Plainfield Renewable Energy project is a unique power plant that creates a beneficial reuse for construction debris by turning it into energy. We’re excited to have this important facility up and running to deliver renewable energy to the residents of Connecticut and New England for years to come," said John Jumper, Leidos chairman and chief executive officer.
