SAIC Provides Financing, Construction Services for Plainfield Renewable Energy Plant

SAIC helps provide financing for construction of Connecticut’s $225 million Plainfield Renewable Energy (PRE) biomass project.

Overview

The PRE biomass plant will generate 37.5 megawatts of clean energy to power the equivalent of 37,000 homes, and bring 400 jobs to the region. In addition to partially financing the project, SAIC will also provide engineering, procurement, and construction (EPC) services for the plant.

"SAIC brings incredible expertise to the table. It is not often that you are able to work with an organization that has so much expertise in so many different areas..."
- David Albert, Carlyle, Mezzanine Opportunities Group

The plant will use wood available from construction and demolition debris, recycled wood pallets, and land clearing materials to produce energy. The biomass plant will feature a wood storage yard, fluidized bed gasification system, condensing steam turbine generator, cooling tower, ash silo, scrubber, bag house, electrical switchyard, storm water storage including collection and treatment, and balance of supporting plant systems. Prepared fuel will be delivered to the site via truck and unloaded using a pair of truck tippers. The storage yard has the capability to hold more than 20 days of fuel, including approximately five days of covered storage capacity. The prepared fuel will be collected with a reclaimer and transported via conveyor from the fuel yard to the enclosed staged gasification system. The fuel will be gasified and used to generate steam. The steam production will drive one steam turbine.

Located on 27 acres, the plant is being built on a former hazardous waste site, which was cleaned up under the Environmental Protection Agency’s (EPA’s) Superfund program.

Project Details

  • Location: Plainfield, Conn.Google Earth
  • Status: Ongoing
  • Project Details:
    • $225 million in construction financing
    • 37.5 megawatts of clean energy
    • Power for 37,000 homes
    • 400 jobs created

Industry Rankings/Awards

  • North American Mezzanine Deal of the Year 2011
    Project Finance - March 2012
  • Deal of the Year
    Energy Risk - March 2012

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