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From: jmhollen	7/11/2011 11:31:13 PM
	of 121

Berlin Biomass Deal Too Good For Developer To Give Up, Competitor Says. By Chris Jensen on Monday, July 11, 2011 The 20-year-deal between Public Service of New Hampshire and Burgess BioPower in Berlin isn't something a company would give up on easily in this economy, says a competitor. He questions whether the Berlin project is really dead. It is hard to believe that Cate Street Capital plans to abandon the Berlin biomass plant, says the president of the company that owns the Alexandria wood-fired power plant. The reason is the 20-year contract between Public Service of New Hampshire and Burgess BioPower. The deal was recently approved by the Public Utilities Commission. “In the energy business these long term power purchase agreements like Cate Street has for 20 years they are literally the Holy Grail for our industry,” said Gerald F. DeNotto, the president of Indeck Energy Services of Buffalo Grove, Illinois. “These things are hard to get in today’s economy and when you’ve got one for 20 years you’ll do whatever commercially reasonable steps you can take to maintain it,” he said in a telephone interview. Late last month a spokesman for Cate Street said negotiations with six small wood-fired plants including Alexandria had passed the deadline and the Berlin project was dead. The negotiations were aimed at getting the wood-fired plants not to appeal the PUC’s approval of the 20-year contract. That appeal would go before the Supreme Court and could take a year to approve. There was a tentative deal for PSNH to give the six plants a two-year contract, according to Cate Street and others familiar with the project. But the Whitefield biomass plant owned by a South Korean corporation refused the deal. Cate Street spokesman Scott Tranchemontagne has said the Whitefield and the Alexandra plants also wanted additional money. Paul Young a spokesman for the Whitefield plant denied that facility wanted extra money. In Alexandria’s case DeNotto said there was no demand for cash. But he acknowledged Indeck did want a deal under which PSNH would buy renewable energy credits from the plant. “We were having an exchange of value for value,” he said. He declined to say whether the deal called for Indeck to be paid more than the current market price for the credits and said it is impossible to predict what credits will sell for in the future. “Indeck could make money. It could lose money,” he said. .

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