Laidlaw Energy completes acquisition of Renegy's 12.5-MW biomass energy power plant in Susanville, California

Lorena Madrigal

NEW YORK , November 11, 2011 (press release) – Laidlaw Energy Group, Inc. (Ticker “LLEG”) (the “Company”) announced today that it has completed the acquisition of a 12.5 megawatt biomass-energy power plant located in Susanville, California by acquiring all of the equity interest of Henri Susanville LLC for cash and stock consideration.

The sellers were Renegy Susanville, LLC which is owned by Renegy, Inc., an entity controlled by Robert M. Worsley, founder and former Chief Executive of SkyMall, Inc., and Nature Energies, Inc., which is owned by Hanalei Renewables, a renewable energy company based in France. Both companies will become equity holders in the Company and have certain registration rights with respect to their stock subject to certain selling limitations. Financial terms of the transaction were not disclosed.

Commenting on the transaction, Laidlaw Energy President & CEO Michael Bartoszek stated “We are pleased to have reached this agreement and welcome our new stockholders. We are excited to be engaged in the California renewable energy marketplace, a state that has enacted legislation to obtain 33 percent of its energy from renewable resources by 2020.”

The Company is currently evaluating other potential acquisitions of biomass energy facilities in the US, including California, although no assurance can be provided that such acquisitions will be available on terms and conditions acceptable to the Company.

About Laidlaw Energy Group

The Company is engaged in the development of independent power plants that generate electricity from renewable and other clean resources, with a particular emphasis on biomass power and combined heat and power projects. The Company is headquartered in New York, New York. For more information, please visit our website at www.laidlawenergy.com.

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