The newly formed developer and operator of biomass power plants Greenleaf Power has completed its second acquisition.
The 15 November saw the company acquire a 28MW biomass power plant in Scotia, California, from Marathon Asset Management.
The plant, which was purchased for an undisclosed sum, has been in operation since 1988, utilising mill residuals, forest thinning, logging slash, green waste sties and other available biomass to generate heat and power for the town of Scotia. The facility sells its electricity under a long-term contract to utility company Pacific Gas & Electric.
‘We see enormous potential in biomass energy,’ Greenleaf Power’s CEO Hugh Smith commented. ‘The Greenleaf Power business model is based on the identification of plants in proximity to reliable feedstock supplies, which can be enhanced through basic improvements which increase efficiency and production.
‘Already five months into the process with our first plant, we are optimistic about the opportunity to replicate the model in more facilities around the country and have several projects in sight,’ Smith continued.
The acquisition of the plant comes after the firm purchased its first biomass project earlier this year in the form of the Wendell, California-based 30MW Honey Lake plant.
Greenleaf Power currently owns and operates around 60MW of biomass-generating assets in northern California.