ReEnergy Holdings acquires biomass facilities

ReEnergy Holdings has purchased five US biomass production facilities located in Maine and New York from Quebec company Boralex for about $93 million (€67.5 million).

In Maine the purchases include a 40MW facility in Ashland, a 36MW facility in Fort Fairfield and a 40MW site in Livermore Falls. In New York the facilities include a 50MW plant in Stratton and a 20MW site in Chateaugay.

Along with the facilities, ReEnergy has acquired 260 employees and as a result the company’s energy portfolio will increase to 240MW in total.

Larry Richardson, ReEnergy CEO, says: ‘This acquisition is a significant step in our strategy to build an integrated solid fuel renewable energy facilities company in the US.’

The company currently operates a 22MW facility in Lyons Falls, New York; and a 31MW facility in Sterling, Connecticut.