Two ME biomass plants sold
A renewable energy company based in Fairfield, N.J., today announced it plans to purchase two biomass energy facilities in Maine.
Covanta Holding Corp., an owner and operator of large-scale energy-from-waste and renewable energy facilities, intends to purchase biomass facilities in West Enfield and Jonesboro from co-owners Ridgewood Maine and Indeck Energy Services Inc., according to a press release from Covanta. The acquisition will add 49 total megawatts to Covanta's renewable energy portfolio, which includes six biomass facilities and 38 energy-from-waste facilities. It represents a 35% increase in electrical capacity from biomass for the company.
Covanta agreed to purchase the facilities for $87 million. The deal is expected to close by the end of this year, pending regulatory approvals and approval by Ridgewood's shareholders.
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