Boralex forced to close biomass facility
Montreal, Canada-based energy company Boralex Inc. is said to be considering the closure of its biomass plant in Ashland.
The company's 40MW facility will have to be shut down indefinitely if it fails to win an energy contract by March this year. Boralex blames spot market fluctuations in New England for its decision.
However, the current market will not affect a 36MW wood-fired power plant in Fort Fairfield, also owned by Baralex, as it has signed a two-year power purchase agreement with an unidentified customer.
The possible closure of the Ashland plant will not significantly impact Boralex as biomass is just a small part of the company's overall business.
Boralex runs 46 wind, hydroelectric and thermal power stations across Canada, the US and France.