2007-05-17 12:10:40 -

ALBANY, N.Y., May 17 /PRNewswire/ -- The New York Regional Interconnect Inc. (NYRI) announced today that Borealis Infrastructure Management has joined the consortium of NYRI investors in the development of NYRI's proposed electrical transmission project in New York State.

Borealis Infrastructure is a global investment company with a mandate to invest in infrastructure assets in compliance with public policy priorities. Borealis has the expertise to originate, validate, finance and asset manage large and complex investments in cooperation with other corporations and interested parties. The Borealis investment augments the investment in

NYRI by American Consumer Industries (ACI), a Delaware investment holding company that specializes in environmentally sensitive power generation technologies and applications.

NYRI seeks to construct a 190-mile long, High-Voltage Direct Current ("HVDC") transmission line as part of the long-term solution to New York State's severe energy transmission bottlenecks. These points of congestion contribute to higher electrical costs in the state and also create negative environmental impacts. Even though southern New York's demand for electricity is projected to grow an average of two percent per year, no new transmission lines have been built to serve the downstate area from upstate resources in more than 20 years.

Many industry analysts, including the U.S. Department of Energy (DOE) and the New York Independent System Operators (NYISO), have extensively documented in recent comprehensive studies that New York's limitations on infrastructure for transmission of electricity will cause significant long-term electrical reliability problems if not addressed now.

The proposed NYRI project would facilitate the transmission of a diverse mix of power generated in upstate New York, including power from clean renewable sources such as wind and hydropower, to areas downstate where there is a growing demand. The project would be built at no cost to New York taxpayers.

The NYRI transmission line would be based on HVDC technology, which has been successfully built and operated around the world. HVDC is well documented as a safe and efficient technology with many technical features that increase reliability and efficiency.

NYRI submitted its Article VII application to the New York Public Service Commission (NYPSC) in May 2006. In January, 2007, NYRI began a series of mediations with interested parties under an administrative law judge appointed by the NYPSC, and was requested to augment its application with additional studies. NYRI expects to file the requested supplements with the NYPSC in July 2007.

"We are excited about the opportunity of having Borealis Infrastructure join the NYRI Project development team because of their global experience with large projects that serve public need in growing economies," said Bill May Project Manager for NYRI. "The financial capabilities Borealis Infrastructure brings to the Investment Partner team will allow NYRI continuing resources to develop a successful transmission infrastructure project to meet the growing energy, economic and environmental needs for all of New York State."

About Borealis Infrastructure

Borealis Infrastructure identifies, invests in and manages OMERS infrastructure assets, which provide competitive and stable rates of return over a long investment horizon. In the business since 1998, Borealis is a global leader in infrastructure investing, with assets in energy, transportation, infrastructure buildings, including long-term care facilities and hospitals, pipelines and telecommunications. OMERS is one of Canada's largest pension plans, with more than US $43 billion in assets. It provides retirement benefits to about 365,000 members on behalf of approximately 900 local government employers across Ontario. http://www.borealisinfrastructure.com/

About American Consumer Industries (ACI)

American Consumer Industries Inc. (ACI) is a Delaware investment holding company that specializes in environmentally sensitive power generation technologies and applications. ACI was formed in 1983 and holds direct interests in various companies. For information on each of these companies, please click on the headings below. http://www.aciinc.net/

About NYRI

New York Regional Interconnect Inc. (NYRI) constitutes a group of investors, engineers, attorneys, economists and environmental scientists proposing to build a transmission line that would bring energy from areas with abundant supply to areas with high demand. NYRI is working with state leaders and communities to enhance public understanding of energy issues, support conservation and promote responsible energy production. http://www.nyri.us/

Media Contact: David Kalson RF|Binder Partners (518) 935-1040 (212) 994-7513 david.kalson@rfbinder.com

Source: New York Regional Interconnect Inc.