California Firm Buys Connecticut Biomass Plant

John Davis

plainfieldA California firm has bought a biomass plant in Connecticut. This article from the Sacramento Business Journal says Greenleaf Power has agreed to buy the 37.5-megawatt Plainfield Renewable Energy plant.

Greenleaf did not disclose a value for the transaction, which is expected to close later this year. But the Washington Post reported the sale price was $30 million in cash and $80 million in secured notes. The seller was Leidos Holdings Inc. of Reston, Va.

Plainfield becomes Greenleaf’s sixth plant, along with facilities in Mecca, Tracy, Humboldt County, Susanville and Quebec City. The acquisition brings Greenleaf’s total renewable energy capacity to more than 180 megawatts.

The plant in Connecticut opened at the end of 2013 and burns waste wood. The plan is to sell the electricity to Connecticut Light and Power under a long-term agreement.