NEWS

October 12, 2009

Contact:
Don Hurd
720-833-6347
info@alpineenergygroup.com

U.S. Virgin Islands Public Services Commission Approves Power Purchase
Agreements between Virgin Island Water & Power Authority and Alpine Energy Group

DENVER, September 29, 2009—The U.S. Virgin Islands Public Services Commission voted on October 6, 2009 to approve two 20-year Power Purchase Agreements that the VI Water and Power Authority signed with Alpine Energy Group to build, own and operate two alternative energy facilities to serve the residents of St. Croix, St. John and St. Thomas. The alternative energy facilities, to be built on St. Croix and St. Thomas, will convert an estimated 146,000 tons per year of municipal solid waste into refuse-derived fuel, which will combine with petroleum coke as fuel to generate steam and electric power.

"We are pleased that the Public Services Commission has voted in favor of the projects. We believe they make perfect sense on so many levels–environmental and economic," noted James Beach, President and CEO of Alpine Energy Group. "We look forward to presenting our case for the projects as we continue our permitting efforts to begin construction and ultimately operation of the facilities."

Each facility will divert essentially all of the municipal solid waste from landfills and provide 33 MW of electric power to St. Thomas/St. John and 16 MW of electric power to St. Croix. Construction is expected to commence in May 2010 with an anticipated completion date during the fourth quarter of 2012. The facility in St. Thomas will be located at Long Point, while the facility in St. Croix will be built in the Anguilla area near the Krause Lagoon, southwest of the Hovensa refinery.

About Alpine Energy Group
Colorado-based Alpine Energy Group is a full-scale project development company that actively pursues greenfield and retro fit opportunities in the U.S. energy sector. Its skilled team of project developers, combined with engineering, construction, operations, and environmental permitting professionals, allows AEG to take projects efficiently from concept to construction and commercial operations. Alpine Energy Group’s primary focus is on the use of biomass and other cellulosic material in Bio-Thermal energy systems that generate steam, power, and substitute natural gas.