December 23, 2008
ME biomass facilities purchased
By The Mainebiz News Staff
Renewable energy company Covanta Holding Corp. today said it has completed a $52 million purchase of two biomass energy facilities in Maine.
Fairfield, N.J.-based Covanta acquired the two nearly identical facilities, located in West Enfield and Jonesboro, from Indeck Maine Energy LLC, which is co-owned by New Jersey-based Ridgewood Renewable Power LLC and Illinois-based Indeck Energy Services Inc. The sale was first announced when a purchase and sales agreement was signed in mid August.
The acquisition adds 49 gross megawatts to Covanta's renewable energy portfolio, increases the gross electrical capacity of Covanta's biomass facilities by 35% and brings the company's total number of biomass facilities to eight.
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