Casella Waste Systems has sold its Lewiston-based construction and demolition material processing subsidiary, KTI Bio-Fuels Inc., to a New York renewable energy company.
Terms of the sale to ReEnergy Holdings LLC, based in Albany, were not disclosed.
The company said in a press release that the acquisition will increase its access to fuel for its nine renewable energy generation plants around New England and expand its capacity for construction and demolition processing and recycling.
The company currently has four biomass-to-energy plants in Maine, in Stratton, Livermore Falls, Fort Fairfield and Ashland. The plants in Maine have a combined generation capacity of 163 megawatts, around half of the company’s total 325 megawatts of installed energy generation capacity.
The company said a majority of KTI’s 27 employees will begin working for ReEnergy as part of the sale and the remainder will continue to work for Casella.
