Clean Energy Technologies Affiliate Announces Favorable Order From Maine Public Utilities Commission; The Facility Is Projected To Generate $5.2M In Revenue Over The First 10 Years Of Participation In The Program
Portfolio Pulse from Benzinga Newsdesk
Clean Energy Technologies, Inc. (CETY) announced its affiliate, Vermont Renewable Gas, LLC, received a favorable order from the Maine Public Utilities Commission, granting New Renewable Resource Certification for a 2.2 MW biogas generator facility. This certification allows the facility to participate in Maine's Renewable Portfolio Standard program, projecting $5.2M in revenue over 10 years. CETY will design, build, and operate the $10M facility, expected to generate over 18,000 MWh of renewable electricity and 1,500 tons of BioChar annually. The project benefits from the Inflation Reduction Act and aligns with CETY's mission to expand its clean energy solutions.
February 07, 2024 | 1:36 pm
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CETY's affiliate received a favorable order from the Maine Public Utilities Commission for a biogas generator facility, projecting significant revenue and aligning with CETY's clean energy expansion goals.
The favorable regulatory decision directly impacts CETY by enabling its affiliate to generate significant revenue, which is expected to contribute positively to CETY's financial performance and strategic expansion in the clean energy sector. The project's alignment with the Inflation Reduction Act and its potential to create long-term, predictable income streams with high IRR cash flows further underscore its importance to CETY's growth strategy.
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