Key Developments For Environmental Power Corporation
Environmental Power Corporation (EPG.O) (Consolidated Issue listed on NASDAQ Capital Market)
Environmental Power Corporation and Xcel Energy Announces New Renewable Natural Gas (RNG) Supply Agreement
Environmental Power Corporation's wholly owned subsidiary, Microgy, Inc., and Xcel Energy announced that they have entered into a long-term renewable natural gas (RNG) supply agreement, subject to approval by the Colorado Public Utilities Commission. Xcel Energy will use RNG to generate carbon-neutral electricity at the company's Fort St. Vrain Generating Station near Platteville, Colo. The agreement will help Xcel Energy continue to meet its mandates under the state`s Renewable Energy Standard (RES) and support the company's efforts to reduce carbon dioxide emissions.
Environmental Power Corporation Announces Sale Of Tax Exempt Bonds For Microgy Riverdale And Hanford Projects
Environmental Power Corporation announced that its subsidiary, Microgy Holdings, LLC, has completed a financing involving the sale of $62.4 million of tax-exempt bonds issued through the California Statewide Communities Development Authority. The proceeds of the bonds will be used to finance construction of the announced Riverdale Cluster and Hanford Cluster renewable natural gas (RNG) projects.
Environmental Power Corporation Files $50 Million Debt Shelf Offering-Reuters
Reuters reported that Environmental Power Corporation said it may periodically sell up to $50 million in debt securities.
Environmental Power Corporation's Microgy Grand Island, LLC Announces Sale Of Tax Exempt Bonds For Microgy Grand Island Biogas Project
Environmental Power Corporation's Microgy Grand Island, LLC announced that it has completed a financing involving the sale of $7 million of tax-exempt bonds issued by the City of Grand Island, Nebraska. The proceeds of the bonds will be used to finance construction of the Grand Island Biogas Project at the JBS Swift Plant in Grand Island, Nebraska. The bonds will bear interest at a rate of 7% per year and mature on June 1, 2023. The bond proceeds will be applied to the construction of the project.
Environmental Power Corporation's Subsidiary Announces Approval of $26 Million Debt
Environmental Power Corporation's subsidiary Microgy Inc., announced that it has received an allocation from the California Debt Limit Allocation Committee (CDLAC) for up to $26.1 million to support the financing of the announced Bar 20 renewable natural gas (RNG) project. The Bar 20 Project in Fresno County consists of anaerobic digesters associated with two adjacent dairies with an expected output of 601,000 MMBtu/year of RNG. Closing on the issuance of the bonds is expected to occur by the end of August, 2008
