Southeast Renewable Energy Announces New Facility in Dorchester County

Columbia, South Carolina

May 5, 2011 – Gov. Nikki Haley, the South
Carolina Department of Commerce and Dorchester County today announced that Southeast Renewable
Energy will
build its new renewable
energy
facility in
Dorchester County. The $50 million investment is expected to generate 20 new jobs over the next five
years. The company
has also entered into an agreement
with the county
to utilize virgin wood residue, such as tree limbs and woody right-of-way clearings, for a portion of the plant’s biomass fuel source.

"We are excited about the partnership
with the county in
this win-win
opportunity. Utilizing the county’s wood
residue is not only sustainable
but it
will
also save them
money and
create local jobs," said
Raine Cotton,
president and CEO of Southeast Renewable Energy.

Southeast
Renewable
Energy will
build a 15-megawatt biomass
energy plant in Dorchester County that will be
fueled using virgin wood
residues. The company will
sell the green power to
Santee Cooper, and the plant is
expected to be completed
in late 2012. It is expected that the new plant will also create many indirect
jobs in the logging,
trucking and forest
product industries.

"This administration is focused on attracting investment and bringing good jobs to
every part of our state,"
said Gov. Haley. "We couldn’t
be happier that Southeast Renewable
Energy has chosen to invest and
create good
jobs in Dorchester County."

"This investment by Southeast Renewable
Energy will
further
strengthen South
Carolina’s growing reputation
in the area of renewable energy. Our state’s business-friendly climate continues
to attract investment that creates jobs for our state’s residents, and this announcement by Southeast Renewable Energy is the latest example," said Bobby Hitt, Secretary of Commerce.

The company has previously announced plans for similar plants in Allendale
and Kershaw counties. The
company has an agreement to
sell green power in
all cases to Santee Cooper for 30 years.
The
agreement with the county to use its virgin
wood
residue for fuel is expected to
save
Dorchester County about $300,000 each
year.

"It is a pleasure to welcome Southeast Renewable
to Dorchester County,
their investment is yet another
in the
Charleston
region that
is
making the area a global leader in green energy,"
Dorchester County
Council Chairman Larry Hargett said. "Not only is SRE
creating jobs and investing
in Dorchester County, but our
partnership will save the county
money as well."

The company
will begin
requesting applications for the positions in early 2012.

Southeast Renewable Energy was founded in
2000
and is a growing leader in the biomass
energy market. The
company’s focus is on developing biomass facilities
with strategic partners and helping others navigate the development phase.
For
more information, please visit www.serenew.com.

About S.C. Department of Commerce

The S.C.
Department of Commerce works closely with
economic development
professionals throughout
the state to recruit
new
jobs and investments and help
existing businesses grow. In 2010, Commerce recruited a
record 20,453 new jobs and
$4.1
billion in
capital investment. Commerce won the Gold Shovel Award and the
Deal
of Year Award in
2011
from Area Development magazine. Trade & Industry Development magazine
selected two projects recruited by Commerce
and its allies in
2010 for the magazine’s annual Corporate Investment & Community Impact Award. Commerce’s efforts have resulted
in the successful recruitment of
numerous world-class companies such
as Boeing, Monster.com, Heinz, ZF Group,
BMW and Google
Inc. In
addition to job and
investment
recruitment,
the
agency provides a range of
business support services and offers grants for community development and infrastructure improvements. For more information, visitwww.SCcommerce.com.

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