Kleen Energy: Generating Progress for an Advanced Electricity Project
In 2007, Kleen Energy Systems, LLC was awarded a substantial contract by the Connecticut Department of Public Utility Control to alleviate electrical congestion in Connecticut. In 2008, Pullman & Comley defended the Kleen Energy project against challenges by unsuccessful bidders and succeeded in having its contract upheld by the Connecticut courts.
Once the contracts were secured, the Kleen Energy project began its construction and looked to secure construction financing. We assisted in the closing of debt and equity transactions through Goldman Sachs Credit Partners and Energy Investor Funds valued at more than $1.3 billion that will allow for the construction and long-term financing of a 620 megawatt dual fuel-fired electric generation project in Middletown, the most advanced and environmentally sophisticated base load electric generation unit in the state. Included in Pullman’s responsibilities on the project is obtaining all necessary state and local permits for the facility.
The Kleen Energy project was recognized as the North American Single Asset Power Deal of the Year for 2008 by Project Finance magazine.