CSG and Innovative Energy today announced a long term agreement to expand the amount of renewable energy created in N.Y. for import into New England. IES will be able to double its operations by the end of the year, expanding the region's capacity for clean, renewable power.
WESTBOROUGH, MASS., Jan. 12, 2005 -- Conservation Services Group (CSG) and Innovative Energy Systems, Inc. (IES) today announced a long term arrangement to expand the amount of renewable energy created in New York for import into New England. By accessing the high value Massachusetts market, IES will be able to double its operations by the end of 2005, expanding the region's capacity for clean, renewable power.
In 2004, the sale of more than $2.3 million worth of New England Generation Information System (GIS) Certificates for power imported into Massachusetts from N.Y. represents a significant milestone for the evolving Renewable Energy Market. Sold by CSG in multiple agreements, the Certificates meet the Massachusetts Renewable Portfolio Standard (MA-RPS). The Certificates were generated by IES, of Oakfield, N.Y., owner and operator of 20 megawatts (MW) of landfill methane recovery units in N.Y., which expects to increase that capacity to 42 MW by the end of the year.
According to Patricia D. Stanton, director of renewable energy markets for CSG, Innovative Energy became the first generator to successfully move renewable energy across regional boundaries, from N.Y. to New England, last March. This new type of
power purchase agreement was designed specifically to create Massachusetts RPS eligible certificates. Stanton said, "We are excited to be an integral player on the Innovative team. Not only are we expanding the region's pool of available 'green' energy, we are also capturing the highest market value for our N.Y. client."
Innovative Energy CEO Peter Zeliff, said, "We are proud to be the first landfill gas generating plant to qualify a New York generation unit for the Massachusetts RPS. Although we incur costs to participate in this market, CSG has helped us identify the most cost effective approach to creating import certificates. CSG's experience with regulatory and public policy issues provided us with tremendous value as they resolved regulatory and legal issues for us in a timely fashion. As a renewable generation developer, access to high value markets is a tremendous incentive to increase our investment in new units."
CSG facilitates trading between generators and electric suppliers by aggregating certificates for convenient purchase and assisting renewable generators in applying for qualification from the Massachusetts Division of Energy Resources. In the case of the N.Y. /NE sale, CSG identified partners, worked with the state and the Independent System Operator to handle imports and resolved regulatory and legal issues so that a qualified N.Y. renewable generator could receive value for their assets. CSG also helped manage the monthly data submissions to the New England GIS and fulfills all certificate sale contracts.
CSG CEO Stephen Cowell, said, "We are pleased to have played a leadership role in proving the viability and value of a market based system for achieving the important public policy objectives of the Massachusetts RPS. In less than two years, the New England GIS market has sent a clear price signal to the entrepreneurial renewable generators. As a result, all of the generators we work with are now financing and expanding their operations to accommodate the demand for green power."
Founded in 1984, Conservation Services Group is a non-profit company based in Westborough, Mass. For more information, visit www.conservationservicesgroup.com.