California Bioenergy First to Sell Greenhouse Gas Emission Reductions to PG&E

Electric, Light & Power; Utility T & D, Automation & Engineering

June 5, 2009 — California Bioenergy, a renewable energy company, agreed to sale of greenhouse gas (GHG) emission reductions from its livestock methane capture project to Pacific Gas and Electric Co.'s (PG&E's) ClimateSmart Program. The ClimateSmart Program is a voluntary, tax-deductible program allowing PG&E customers to mitigate the GHG emissions produced through their energy use by paying a separate amount on their monthly bill. PG&E invests the funds in new, independently verified projects that reduce or absorb GHG emissions. The California Bioenergy project, located on a dairy farm in Kern County, Calif., will help combat climate change by yielding 75,000 metric tons of GHG emission reductions.

"California Bioenergy's contract with PG&E creates tremendous benefits," said Edwin F. Feo, co-chair of Milbank's Power, Energy & Utilities practice, working with associate Ari Bessendorf, both in the firm's Los Angeles office. "The project will reduce greenhouse gas emissions, as well as facilitate economic development in the area."

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