New York, NY - Apr 20 - MARKET WIRE


Long Island Power Authority President and CEO Kevin S. Law and Consolidated Edison (Con Edison) Chairman and CEO Kevin Burke have announced the creation of a "Wind Collaborative" to advance the LIPA-ConEdison Offshore Wind Farm project.

The Collaborative will be comprised of state and municipal entities interested in supporting or purchasing power from the proposed offshore wind project the two utilities are exploring. The project would be sited approximately 13 miles off the Rockaway Peninsula in the Atlantic Ocean and would likely be designed for 350 MW of generation, with the ability to expand it to 700 MW, giving it the potential to be the largest offshore wind proposal in the country.

The Collaborative is part of the second phase of a joint feasibility study between the two utilities. The first phase concluded that an interconnection of up to 700 MW of wind power, located at the desired location in the Atlantic Ocean, would be feasible with upgrades to their respective transmission systems.

The intent of the collaborative working group will be to gather information and work towards the issuance later this year of a Request for Expressions of Interest (REFI) which will serve as a precursor to a Request for Proposals (RFP) under which LIPA, Con Edison and possibly other members of the Collaborative would seek proposals from private development firms to build the project and enter into agreements to purchase the energy produced by the project with various purchasers.

"I look forward to working with Con Edison, New York City and other state agencies and federal agencies as we move ahead with our study for this major wind project," said LIPA President and CEO Kevin S. Law. "The time is now to combine conservation with clean power and establish our state and nation as alternative energy leaders on a global level. If determined that this project makes economic sense for our customers, we have the opportunity to create not only green power but green jobs as well."

"Our joint collaboration with LIPA, along with the community leaders and public officials across the state, could become an exciting and environmentally responsible project for all New Yorkers," said Con Edison Chairman and CEO Kevin Burke. "We must explore every avenue to harness renewable power in our region, and we look forward to studying the potential for wind generation for our customers."

Initial Wind Collaborative organizations include the New York State Energy Research and Development Authority, the New York Power Authority, the New York City Economic Development Corporation, the Metropolitan Transportation Authority, and the Port Authority of New York and New Jersey.

Law and Burke also released recent correspondence (see attached) with U.S Secretary of the Interior, Ken Salazar, commending him on his conviction to move aggressively to develop plans to encourage offshore wind energy in the United States and to update him on the status of the LIPA-Con Edison plan. Law recently briefed Salazar about the wind project earlier this month in Atlantic City while representing Governor David A. Paterson at the Secretary of the Interior's regional hearing on the future of offshore energy development on the nation's Outer Continental Shelf.

The second phase of the wind study will also include the creation of a joint LIPA/Con Edison Web site to keep the wind industry, communities and stakeholders informed of the project's progress and a continuing study of the economics and feasibility of the project, including: determining if there is sufficient wind resources to meet the scope of the project; an avian (bird impacts) study, further environmental impacts, economic costs, community impact and the potential number of jobs the project could create.

The concept for the offshore wind project emanated from Governor Paterson's Renewable Energy Task Force and is consistent with the Governor's "45 by 15" program, which establishes the goal for New York State to meet 45 percent of its electricity needs through improved energy efficiency and renewable sources by the year 2015.

A copy of the joint feasibility study may be obtained by following either of the following links:

http://www.lipower.org/newscenter/pr/2009/032009-windstudy.pdf

http://www.coned.com/messages/WindProjectStudy.pdf

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For LIPA contact: Ed Dumas VP of Communications 516.719.9838 (Office) 631.872.2790 (cell) For Con Edison: Michael Clendenin Director of Communications 212-460-4111 (Office) 917-763-9505 (cell)

SOURCE: Con Edison Co. of NY, Inc.