Greenleaf Power secures $100m, plans to expand

Greenleaf Power, an owner and operator of biomass power plants in North America, has announced the closing of $100 million (€73.7 million), which it will use to acquire more biomass plants.

Babson Capital Management is the agent for the financing institutions under the financing.

To date the company has purchased five biomass-fired facilities with a total output capacity of 145MW.

'This agreement provides us with an additional $100 million of growth financing capacity at an attractive cost of capital,' Greenleaf Power president Hugh Smith was quoted as saying.