Carlyle to Finance Conn. Biomass Project

The Carlyle Group will provide financing for construction of a $225 million renewable energy biomass project in Plainfield, Conn., Reuters reported Monday. The project will also be financed by defense services contractor SAIC Inc.

(Reuters) – Defense services contractor SAIC Inc. and private equity firm Carlyle Group said they will provide financing for construction of a $225 million renewable energy biomass project in Plainfield, Connecticut.

The Plainfield Renewable Energy project, owned by a unit of Enova Energy Group, will create 400 jobs, the companies said in a joint statement.

The project, which is expected to be completed in December 2013, will generate 37.5 megawatts of clean energy to power the equivalent of 37,000 homes using wood and has all necessary permits, the companies said.