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LG&E DEVELOPMENT CORPORATION PROJECT IS ECONOMIC BOOST FOR STATE AND RENSSELAER

 LG&E DEVELOPMENT CORPORATION PROJECT IS ECONOMIC BOOST
 FOR STATE AND RENSSELAER
 RENSSELAER, N.Y. /PRNewswire/ -- State and local officials and area business leaders today joined LG&E Development Corporation of Fairfax, Virginia, for a groundbreaking ceremony for its $110 million cogeneration project at the Port of Rensselaer.
 New York State Lieutenant Governor Stan Lundine, the ceremony's keynote speaker, emphasized, "The Rensselaer Cogeneration Project will strengthen the business climate of both New York state and Rensselaer County. By creating jobs and respecting the environment, it is a model of the kind of commercial development New York State is proud to encourage."
 In March, LG&E Development Corporation began construction of the 79-megawatt, natural-gas-fired facility. The cogeneration project will produce steam and electricity from a combined-cycle gas and steam turbine-generator system. The power generated will be transmitted to Niagara Mohawk Power Corporation, and the process steam will be supplied to the nearby BASF Corporation. BASF currently has more than 400 employees, with an annual payroll of $15 million.
 According to Rensselaer County Executive John L. Buono, "New economic-development projects such as this provide the mechanism through which our county can continue to grow and prosper."
 In addition to the benefits of the energy efficiency of cogeneration and the use of environmentally clean natural gas, the project is expected to bring about the employment of approximately 120 people during construction of the plant over the next two years. This will bring a $12 million payroll into the Capital District economy. A total of more than $2 million in construction equipment and materials will also be purchased locally. Once in operation, the facility will provide 16 full-time local jobs -- a permanent payroll in excess of $1 million annually -- and will contribute an estimated $14 million in property taxes for the next 17 years.
 Rensselaer Mayor Joseph Harrigan noted, "Our city welcomes the cogeneration project and applauds the new opportunities for employment and economic development it brings to our community."
 LG&E Development Corporation is a subsidiary of LG&E Power Systems Inc., headquartered in Irvine, California.
 RENSSELAER COGENERATION PROJECT
 FACT SHEET
 Owner: Hadson Power Partners of Rensselaer, a subsidiary of
 LG&E Power Systems Inc.
 Plant: A natural-gas-fired cogeneration facility producing
 steam and electricity from combined-cycle gas and steam
 turbine-generator system.
 Site: Five-acre parcel zoned for heavy industrial use,
 located within the boundaries of the Port of
 Rensselaer, west of Riverside Avenue in the City of
 Rensselaer, Rensselaer County, New York.
 Power
 Output: Net 79 megawatts of electricity supplied to
 Niagara Mohawk Power Corporation under a 25-year
 contract.
 Energy
 Output: Process steam output supplied to BASF
 Corporation.
 Fuel: Combustion turbine will be fired with an average daily
 flow of 15 million BTUs (or 15,000 cu. ft.) of natural
 gas.
 Water
 Supply: Treated water from BASF Corporation for the
 cooling of plant equipment and auxiliary systems
 and City of Rensselaer.
 Water
 Discharge: Pretreated wastewater returned to Hudson River
 (primarily cooling water) per state and local
 regulations.
 Sanitary
 Sewage: Discharge of sanitary stream to City of
 Rensselaer.
 Air
 Quality: Designated a minor source under PSD regulations.
 Emissions controls include Selective Catalytic
 Reduction (SCR) combustion controls and
 low-sulfur distillate oil as alternate fuel.
 Permits: The New York State Department of Environmental
 Conservation (NYSDEC) issued final air and water
 permits and a final Environmental Impact Statement
 (EIS) on January 27, 1992.
 Schedule: Commercial operation by March 1994; construction
 initiated March 2, 1992.
 LG&E ENERGY CORP. (NYSE: LGE)
 FACT SHEET
 LG&E Energy Corp.
 LG&E Energy Corp. is a energy-services holding company with headquarters in Louisville, Kentucky. It has two subsidiaries based in Louisville -- Louisville Gas and Electric Company (LG&E) and LG&E Energy Systems Inc.
 LG&E
 LG&E is a regulated utility that provides electric services and natural gas to customers in Louisville and adjacent areas in Kentucky. The company's service territory covers approximately 700 square miles in 17 counties.
 LG&E Energy Systems Inc.
 Formed by LG&E Energy Corp. in 1991, this subsidiary directs the company's expansion and manages its unregulated businesses and assets.
 Natural Gas Clearinghouse
 LG&E Energy Systems holds a one-third general partnership interest in Natural Gas Clearinghouse (NGC) of Houston, Texas. NGC is an industry leader in marketing, aggregating, processing and transporting natural gas and natural gas liquids.
 LG&E Power Systems Inc.
 Purchased by LG&E Energy Systems in 1991, this subsidiary is a leader in developing, designing, building, owning, operating and maintaining electric-generation facilities that sell energy to utilities nationwide. LG&E Power Systems uses a variety of technologies to burn a range of fuels with environmental sensitivity and technological innovation. The company has ownership in, or is developing, projects in Maine, New York, North Carolina and Virginia. It also provides operating services to 18 facilities in California, Pennsylvania, Maine, New York, Virginia and Montana. LG&E Power has developed 15 power plants (12 operating; three under construction) for a total of 784 MW and $1.2 billion in financing over the past 10 years. LG&E Power has substantial equity interest in seven of these plants. LG&E Power operates 13 projects and is developing another six projects. In addition, LG&E Power has provided engineering and construction services for 11 power and cogeneration plants in which it holds no equity interest.
 LG&E Development Corporation
 LG&E Development Corporation, a Power Systems' subsidiary, developed the Rensselaer Cogeneration Project. Ultrasystems Engineers and Constructors, Incorporated, also a Power Systems' subsidiary, is the turnkey contractor for the design and construction of the Rensselaer Cogeneration Project.
 -0- 5/21/92
 /CONTACT: Theodore R. Thomas, LG&E Development Corporation, 703-968-7200/
 (LGE) CO: LG&E Development Corporation; LG&E Energy Corp. ST: Virginia, New York, Kentucky SU: UTI IN: PDT


CM -- CH006 -- 2886 05/21/92 13:22 EDT
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Date:May 21, 1992
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