Greenleaf Power Finalizes Acquisition of St-Félicien Cogénération Power Plant in Quebec
Acquisition is the Company’s first plant outside the United States
SACRAMENTO, Calif.--(BUSINESS WIRE)--Greenleaf Power, an owner and operator of renewable energy power plants, announced today that it has finalized the purchase of the St-Félicien Cogénération Power Plant located in St-Félicien, Quebec, Canada, approximately 300 miles north of Montréal.
“Biomass energy is one of the few renewable technologies that provides baseload renewable energy”
"The addition of the St-Félicien facility marks Greenleaf Power’s first acquisition outside of the United States and is another step for us on our growth path," said Hugh Smith, president of Greenleaf Power. “St-Félicien Cogénération adds to our portfolio of biomass plants and increases our total renewable energy capacity to more than 145 megawatts.”
The St-Félicien facility has a net capacity of approximately 21 megawatts of electricity. It is capable of providing baseload renewable energy for as many as 23,000 homes as well as steam which is provided to the adjacent facility. The biomass facility sells its electrical output to Hydro-Quebec under a long-term agreement.
Greenleaf Power is focused on investing in and developing projects that gather biomass that would otherwise be openly burned or landfilled, and converting it to renewable energy. Greenleaf Power's experienced team of clean energy professionals has proven its capability to optimize the profitability, efficiency and output of its plants by undertaking operational improvements, fuel procurement initiatives and revenue enhancements.
"Biomass energy is one of the few renewable technologies that provides baseload renewable energy," added Smith. "While most other renewable sources are intermittent, biomass provides reliable, predictable power under all conditions throughout the year. This project holds great promise in becoming an integral part of St-Félicien’s planned sustainable energy development. We look forward to working closely with the St-Félicien community."
Greenleaf Power purchased the St-Félicien facility from Enel Green Power, Canada, which has owned and operated the St-Félicien plant since its inception in 2001. Financial terms of the transaction were not disclosed.
About Greenleaf Power
Greenleaf Power acquires, develops, owns and operates power projects that utilize residual biomass as fuel. Greenleaf Power currently owns and operates more than 145 megawatts of biomass generating assets in North America. With its corporate headquarters located in Sacramento, Calif. Greenleaf Power directly employs over 150 people and supports approximately 600 full-time positions dedicated to supplying the facilities’ fuel requirements. Greenleaf Power is backed by Denham Capital, a leading global energy-focused private equity firm. For more information about Greenleaf Power, visit www.greenleaf-power.com.
About Denham Capital
Denham Capital is a leading energy-focused global private equity firm, advising funds with approximately $7.3 billion of invested and committed capital. Denham Capital makes direct investments in the energy and resources sectors, including businesses involving renewable and thermal power generation, oil and gas, and metals and minerals. From offices in Boston, Houston, London, São Paulo and Perth, Denham invests globally, with current investments in Africa, the Middle East, the U.S., Canada, South America, Australia, Europe and Asia. Denham invests across all stages of the corporate lifecycle, from exploration and development projects to mature, operating businesses, and all segments of the capital structure. For more information about Denham Capital, visit www.denhamcapital.com.