Print
Email
Print Edition Stories
MHT's Efrain Viscarolasaga: Solar installation booms in New England
MHT reporter Efrain Viscarolasaga on NECN: Green tech brings jobs back to Mass.
NECN: New England techs lead new fuel cell markets
New Jersey-based renewable energy developer Covanta Holding Corp. has completed its previously announced acquisition of two biomass energy plants in Maine from the facilities’ co-owners, Ridgewood Maine LLC and Indeck Energy Services Inc.
Covanta (NYSE: CVA) paid $52 million for the two nearly identical wood-waste biomass facilities in West Enfield and Jonesboro.
The acquisition adds 49 gross megawatts to Covanta’s renewable energy portfolio and increases the firm’s gross electrical capacity from biomass facilities nationwide by 35 percent. Covanta’s portfolio includes eight biomass facilities and 38 energy-from-waste facilities, according to the company.
The biomass energy facilities, also referred to as wood-waste facilities, combust biomass to produce renewable electricity. Fuel source biomass may include woodchips, sawdust, bark, tree trimmings, agricultural waste and wood recovered from construction demolition activities, according to statements from Covanta.
Covanta intends to sell the electric output and renewable energy credits from the new facilities into the New England market, according to previous company statements.
Publicly traded since 1992, Covanta reported $1.4 billion in revenue in 2007, with $130.5 million in net income.
RSS Feeds
Comments
Please Login/Register to post comments.
No comments have been added or approved.