NEWS

September 29, 2009

Contact:
Don Hurd
303-789-6900
info@alpineenergygroup.com

Alpine Energy Group a Finalist for the Platts 11th
Annual Global Energy Awards "Green Energy Initiative of the Year"

DENVER, September 29, 2009—Denver-based Alpine Energy Group (AEG), a full-scale project development company serving the power and energy industries, announced today it is a finalist for the Green Energy Initiative of the Year category of the 2009 Platts Global Energy Awards, announced on September 28, 2009. AEG was nominated and selected for its initiative to build, own, and operate two alternative fuel plants in the U.S. Virgin Islands (USVI).

AEG signed four 20-year agreements with the government of the USVI that include two power purchase agreements and two waste services management agreements in August 2009. The alternative energy facilities, to be built on St. Croix and St. Thomas, with a projected cost of $440 million, will convert an estimated 146,000 tons per year of municipal solid waste into refuse-derived fuel (RDF) using WastAway Services® technology, which will combine with petroleum coke as fuel to generate steam and electric power.

"To say we are pleased to have been selected as a finalist for this prestigious award would be an understatement," said James Beach, President and CEO of Alpine Energy Group. “We believe these projects will be instrumental in providing the citizens of the Virgin Islands with a long-term source of electricity, while stabilizing energy costs and solving the Islands’ waste management problems.”

Platts, a leading global provider of energy and commodities information, is a division of the McGraw Hill Companies. The Platts Global Energy Awards, oft-referred to as the "World Series" or energy, were established in 1999 as a way to recognize companies and individuals who consistently set high standards of excellence in the energy industry. This year, Platts added several new categories to the program, including the Green Initiative of the Year, to acknowledge initiatives that develop renewable or clean energy sources or techniques to significantly reduce energy use.

According to Platts, finalists for the awards program were selected from over 200 nominations and came from more than 30 countries, including China, Russia, India, Brazil, the United Kingdom, Spain, and Thailand, among others. The winners of each category will be announced in New York City on December 3, 2009.