New England Region Becoming U.S. Renewable Energy Hub

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Researched by Industrial Information Resources (Sugar Land, Texas)--The New England market region, which consists of Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont, is slowly becoming a hub for biofuels and renewable energy. There are 64 operational and 41 pre-commissioned renewable energy power plants in the region. There are also 12 operational and 10 pre-commissioned alternative fuels-related plants in the region.

Biodiesel is making quite a splash in New England, and there are currently eight operational plants producing biofuels, mainly for the area's heating oil market. Another three plants are under construction, and four facilities are in the development phase.

Fuel pellet mills are also becoming popular in the region, as fuel pellets are being used to fuel power plants and pellet stoves. Four plants are in operation, and another three are in the process of obtaining funding and will begin construction in 2012.

In the renewable energy sector, a variety of plants are operating or in various phases of development and construction. These include biomass-fired power plants, hydroelectric power plants, windfarms, solar energy plants and landfill gas-to-energy facilities. Of these, 76 plants are in operation, and another 42 plants are in pre-commissioning. Some of the operational plants have upcoming maintenance activity planned, and another 61 plants are under development. Investment in these facilities accounts for more than $12 billion in capital spending through the third quarter of 2013.

Nine additional biofuel and pellet mill projects are scheduled to begin next year, requiring a combined total investment of more than $1 billion.

Governors of the New England states and premiers of the Eastern Canadian provinces said there was a general agreement that the regions should be working together toward the development of renewable sources of energy and the means to transmit that power.

With more than $13 billion in projected spending over the next three years, the region is well on its way to becoming a U.S. renewable energy hub.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.