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DESTEC AND PARADIGM POWER TO JOINTLY DEVELOP NORTHWAY COGENERATION PROJECT

 HOUSTON, July 21 /PRNewswire/ -- Destec Energy, Inc. (NYSE: ENG), a leading independent power producer, and Paradigm Power, Inc., the independent power subsidiary of New Jersey Resources Corporation (NYSE: NJR), today announced that they have entered into an agreement to jointly develop the Northway cogeneration project in Harriman, N.Y. The Northway facility is designed to provide up to 57 megawatts of electrical power to Orange and Rockland Utilities, Inc., under the terms of an existing 25-year power purchase agreement, and thermal energy for industrial processing applications to the adjacent Nepera, Inc. facility in Harriman, New York.
 The plant's primary fuel will be natural gas. The project is currently negotiating a 20-year contract with New Jersey Natural Gas Company, the principal subsidiary of New Jersey Resources Corporation, for the supply of approximately four billion cubic feet of natural gas annually.
 Cogeneration refers to the production of two forms of energy from a single source. A 57 megawatt cogeneration project typically provides sufficient energy to fill the electrical power needs of about 50,000 households as well as steam for industrial uses. Because it converts virtually all the steam that is produced in the electrical generation process into useful energy, cogeneration is typically 25 to 50 percent more efficient than the traditional method of producing electricity.
 "Destec is very pleased to be associated with Paradigm Power in the development of the Northway project," said Charles F. Goff, president and CEO of Destec. "Northway will provide efficient and environmentally clean power for homes and businesses that are customers of Orange and Rockland. Our alliance with Paradigm further strengthens the considerable efforts already undertaken by Destec to develop this important facility."
 Our participation in the Northway cogeneration project is a natural complement to all of our energy related businesses," said Oliver G. Richard III, chairman and CEO of New Jersey Resources. "It is consistent with New Jersey Resources' strategic focus to take advantage of the synergies that exist from supplying off-peak natural gas to independent power generation plants. This benefits utility customers and shareholders alike.
 -0- 7/21/93
 /CONTACT: Keith D. Duke, 713-735-4022 (investors), or Marvin L. Brown, 713-735-4215 (media), both of Destec Energy, Inc./
 (ENG NJR)


CO: Destec Energy, Inc.; Paradigm Power, Inc. ST: Texas, New Jersey, New York IN: UTI SU:

MP-MG -- NY042 -- 3897 07/21/93 11:24 EDT
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Date:Jul 21, 1993
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