Fortistar buys Algonquin gas-to-energy projects
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- October
- 25
Fortistar LLC, an energy company based in White Plains, has agreed to acquire Algonquin Power Income Fund’s six landfill gas-to-energy projects in California and New Hampshire, the companies announced today. Algonquin said the purchase price for these and other related assets would be about $11.7 million.
Fortistar takes landfill gas, which is methane, and converts it to electricity or heating gas.
These new projects, which represent more than 18 megawatts of generating capacity, are part of Fortistar’s ongoing expansion of its renewable energy sector. Last month, it acquired Minnesota Methane LLC and United Gasco LLC from TD Banknorth NA.
The deal is expected to close in about a month. At that time, Fortistar will own 50 of these projects through its Methane Group.
Fortistar says its gas-to-energy projects represent about 12 percent of the developed market.
This entry was posted
on Thursday, October 25th, 2007 at 3:33 pm by Alison Bert.
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