Concord Steam's sale to Halifax American Energy of remaining 4 MW from proposed US$80M wood-burning cogeneration plant in Concord, New Hampshire, clears way for funding
November 15, 2011
– Energy project developer Concord Steam Corp. has cleared a funding hurdle by securing a contract to sell the last 4 megawatts from its proposed US$80 million, 17-MW wood-fueled power plant in Concord, New Hampshire, Biomass Power & Thermal Magazine reported Nov. 14.
Halifax American Energy Co. (HAEC) has agreed to buy the 4 MW. Concord Steam already had agreements to sell 13 MW from the proposed cogeneration plant to other utilities, including 10-year agreements with South Jersey Energy.
Concord Steam was required to pre-sell the power the proposed facility will generate before it would receive funding, Biomass Magazine reported.
HAEC founder and managing director August Fromuth said the company's contract for the new plant includes cost-saving new direct-to-grid features.
HAEC is a partner with South Jersey Energy. The New Hampshire Executive Council and Concord City Council signed 10-year agreements to buy electricity from the new power plant through South Jersey Energy, Biomass Magazine reported.
The Concord-based company already uses forestry waste to provide district heating for downtown Concord, and plans to close that facility when it completes the new one.
The primary source of this article is Biomass Power & Thermal Magazine, Grand Forks, North Dakota, on Nov. 14, 2011.