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<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934

         Date of Report (Date of earliest event reported): March 6, 2003



                         Environmental Power Corporation
             (Exact name of registrant as specified in its charter)


        Delaware                     0-15472                 04-2782065
----------------------------      ------------               ----------
(State or other jurisdiction      (Commission               (IRS Employer
of incorporation)                 File Number)              Identification No.)


           One Cate Street, 4th Floor, Portsmouth, New Hampshire 03801
                    (Address of principal executive offices)


                                 (603) 431-1780
              (Registrant's telephone number, including area code)


<PAGE>



Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits

99 Press Release of Environmental Power Corporation ("POWR") dated March 6,
2003.

Item 9.  Regulation FD Disclosure

The Press Release attached as Exhibit 99 hereto is furnished pursuant to
Regulation FD. It is not filed.

Cautionary Statement


The Private Securities Litigation Reform Act of 1995 (the "Act") provides a
"safe harbor" for forward-looking statements. Certain statements contained in
this press release such as statements concerning the execution of a Letter of
Intent with Dairyland for a strategic alliance to enable the deployment of
animal waste to energy systems producing up to 25 MW of distributed electricity;
enabling numerous farms to lessen their impact on the environment; respond to
EPA regulations; profit from the production of renewable energy; Dairyland
enjoying many years of reasonably priced renewable electricity and fulfilling
its commitment to preserving and protecting the quality of the environment;
beliefs as to the proposed strategic alliance with Dairyland serving as a model
for other regions in America and target market estimates and other statements
contained herein regarding matters that are not historical facts are forward
looking statements as such term is defined in the Act. Because such statements
involve risks and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not limited to the
non-binding nature of the Letter of Intent,where the environment, the farmers
and electric consumers can gain solid benefits; the inability to predict the
course or outcome of any negotiations with parties involved with POWR's or
Microgy's projects, uncertainties involving development stage companies,
financing requirements and uncertainties, difficulties involved in developing
and executing on a business plan, technological uncertainties, volatile and
unpredictable developments (including plant outages and repair requirements),
the difficulty of estimating construction, development, repair and maintenance
costs and timeframes, the uncertainties involved in estimating insurance and
implied warranty recoveries, if any, uncertainties relating to general economic
and industry conditions, the amount and rate of growth in expenses,
uncertainties relating to government and regulatory policies, the legal
environment, intellectual property issues, the competitive environment in which
POWR and Microgy operate and other factors, including those described in the
Company's filings with the Securities and Exchange Commission, including the
section "Management's Discussion and Analysis of Financial Condition and Results
of Operations -- Certain Factors That May Impact Future Results" of POWR's
Quarterly Report on Form 10-Q for the period ended September 30, 2002. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of their dates. POWR undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.




<PAGE>




                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                               ENVIRONMENTAL POWER CORPORATION


March 6, 2003                                   By:
                                                --------------------------------
                                                / /R. Jeffrey Macartney
                                                Treasurer and
                                                Chief Financial Officer
                                                (principal accounting officer
                                                and authorized officer)



<PAGE>

</TEXT>
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<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a4351877_ex99.txt
<DESCRIPTION>ENVIRONMENTAL POWER  EXHIBIT 99
<TEXT>
    Environmental Power Corporation Subsidiary and Dairyland Power
                Cooperative Execute Letter of Intent;

            Manure Will Produce Up to 25 MW of Electricity

    Energy Editors/Business Editors

PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 6, 2003--Environmental Power
Corporation (OTCBB: POWR), ("Environmental Power") through its
subsidiary Microgy Cogeneration Systems, Inc. ("Microgy") has executed
a Letter of Intent with Dairyland Power Cooperative ("Dairyland") to
create a strategic alliance to deploy animal waste to energy systems
on dairy and swine farms in Dairyland's service territory in the
Midwest. These proposed systems will produce up to 25 MW of renewable
distributed generation capacity and be based on Microgy's proprietary
anaerobic digestion technology that processes and controls animal
waste from dairy and swine farm operations. The biogas produced from
the digesters will be purchased by Dairyland for its use in generating
clean, renewable energy. Dairyland serves a five state region through
member cooperatives in Wisconsin, Minnesota, Iowa, Illinois and
Michigan.

Dan Eastman, Vice President of Business Development for Microgy
stated: "Our proposed strategic alliance with Dairyland will enable
numerous farms to lessen their impact on the environment, respond to
new Environmental Protection Agency pollution regulations for
Concentrated Animal Feeding Operations (CAFOs) and profit from the
production of renewable energy. Dairyland will enjoy many years of
reasonably priced renewable electricity to serve its expanding
customer base and fulfill its commitment to preserving and protecting
the quality of our environment."

"Environmental Power believes that this strategic alliance with
Dairyland will serve as a model for other regions in America where the
environment, the farmers and electric consumers can all gain solid
benefits by working together to be good stewards of the earth in a
manner which makes economic sense."

Environmental Power, through Microgy, holds the exclusive North
American license for a highly efficient anaerobic digestion technology
that produces renewable energy by converting polluting waste resources
from agricultural sites into clean, cost effective fuel. The Company's
technology has operated successfully for more than 15 years at over 25
facilities in Europe. Environmental Power currently has a number of
projects soon to begin construction in Wisconsin, Vermont and New
York.

Dairyland, one of the largest generation and transportation
cooperatives in the Midwest, provides wholesale electric power to 25
distribution cooperatives and 20 municipal electric systems. The
Cooperative is committed to preserving and protecting the quality of
the environment by expanding its renewable energy portfolio. The use
of methane gas from anaerobic digestion is part of this long term
plan.

<PAGE>

ABOUT ENVIRONMENTAL POWER CORPORATION

Environmental Power Corporation (OTCBB: POWR) is an entrepreneurial
energy company established in 1982 with annual revenues in excess of
$50 million. The company focuses on environmentally sound power
generation and anaerobic digestion systems.

Environmental Power is targeting its proposed anaerobic digestions
systems to animal feeding operations in the U.S. with an estimated
initial target market of approximately $6.7 billion and estimates
initial and expanded market potential to exceed $14 billion. For more
information visit the company's web site at
www.environmentalpower.com.

CAUTIONARY STATEMENT

The Private Securities Litigation Reform Act of 1995 (the "Act")
provides a "safe harbor" for forward-looking statements. Certain
statements contained in this press release such as statements
concerning the execution of a Letter of Intent with Dairyland for a
strategic alliance to enable the deployment of animal waste to energy
systems producing up to 25 MW of distributed electricity; enabling
numerous farms to lessen their impact on the environment; respond to
EPA regulations; profit from the production of renewable energy;
Dairyland enjoying many years of reasonably priced renewable
electricity and fulfilling its commitment to preserving and protecting
the quality of the environment; beliefs as to the proposed strategic
alliance with Dairyland serving as a model for other regions in
America and target market estimates and other statements contained
herein regarding matters that are not historical facts are forward
looking statements as such term is defined in the Act. Because such
statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to the non-binding nature of
the Letter of Intent,where the environment, the farmers and electric
consumers can gain solid benefits; the inability to predict the course
or outcome of any negotiations with parties involved with POWR's or
Microgy's projects, uncertainties involving development stage
companies, financing requirements and uncertainties, difficulties
involved in developing and executing on a business plan, technological
uncertainties, volatile and unpredictable developments (including
plant outages and repair requirements), the difficulty of estimating
construction, development, repair and maintenance costs and
timeframes, the uncertainties involved in estimating insurance and
implied warranty recoveries, if any, uncertainties relating to general
economic and industry conditions, the amount and rate of growth in
expenses, uncertainties relating to government and regulatory
policies, the legal environment, intellectual property issues, the
competitive environment in which POWR and Microgy operate and other
factors, including those described in the Company's filings with the
Securities and Exchange Commission, including the section
``Management's Discussion and Analysis of Financial Condition and
Results of Operations -- Certain Factors That May Impact Future
Results'' of POWR's Quarterly Report on Form 10-Q for the period ended
September 30, 2002. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of their
dates. POWR undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

For more information, please contact:
brecca@environmentalpower.com
www.environmentalpower.com


    CONTACT: Investor Contact :
             Environmental Power Corporation
             R. Jeffrey Macartney, 603/431-1780
             jmacartney@environmentalpower.com
             or
             Media Contact :
             Environmental Power Corporation
             Brecca Loh, 603/431-1780 ext. 18
             brecca@environmentalpower.com

<PAGE>


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