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Methane Power seeks $20m for power from LFG

Developer, owner and operator of renewable energy projects Methane Power is looking to raise $20 million (€14.59 million) to build a number of power projects in the US states of North and South Carolina.

Based in Charlotte, North Carolina, Methane Power aims to generate up to 10MW of renewable energy from landfill gas (LFG) within the next 12 months.

According to Methane Power’s founding CEO James Voss, the company has already, or is close to securing long-term power purchase agreements.

Methane Power is currently developing one of its energy projects in Wayne County, North Carolina, for which energy company Progress Energy has agreed to purchase the 3.2MW output capacity for $6 million.

This additional 10MW of power will boost Methane Power’s total output capacity to around 24MW a year.

Source: Green Energy Resources