FAME approves $45 million tax-free finance deal for Hampden plant
The Finance Authority of Maine approved $45 million in tax-free debt financing for a new waste-to-energy plant under construction in Hampden.
Maryland-based Fiberight, which broke ground on its $69 million facility last October, told the Waterville Sentinel the FAME financing was a key milestone in the project, which is expected to be completed by April 2018.
The newspaper reported that the Municipal Review Committee, a nonprofit group that represents the solid waste interests of 187 municipalities across Maine, plans to send its trash to Fiberight when the committee’s contract with the Penobscot Energy Recovery Co., or PERC, ends in April 2018. Fiberight currently has 115 municipalities signed up for its plant once it becomes operational, the newspaper reported.
The competing Orrington-based PERC waste-to-energy plant had opposed Fiberight’s request for the FAME-approved financing, the newspaper reported.
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