Maine $13 Million Biomass Bailout To Restart Biomass Plants

Maine regulators on Tuesday approved splitting $13.4 million in subsidies across four biomass facilities, including two shuttered by Covanta in Penobscot and Washington counties. The Maine Public Utilities Commission voted unanimously to accept bids from Stored Solar, a subsidiary of the French energy firm Capergy that bought the Covanta plants, and ReEnergy Holdings. Stored Solar […]

Maine regulators on Tuesday approved splitting $13.4 million in subsidies across four biomass facilities, including two shuttered by Covanta in Penobscot and Washington counties.

The Maine Public Utilities Commission voted unanimously to accept bids from Stored Solar, a subsidiary of the French energy firm Capergy that bought the Covanta plants, and ReEnergy Holdings.

Stored Solar on Nov. 17 notified federal regulators that it closed the purchase of the former Covanta plants on Oct. 18, in an application seeking to restart operations and sell into the regional wholesale market as early as this month. Regulators have not issued a decision on that request. Covanta closed the plants, which employed about 44 people, in March and April.

A bailout bill passed into law in April directed the PUC to offer biomass generators a deal. Those that could show economic benefits and an inability to compete at market rates could vie for two-year contracts for their electricity, at prices more generous than on the open market.

Harry Lanphear, spokesman for the PUC, said Stored Solar’s bid came in after it secured a purchase and sale agreement for Covanta’s plants, but in time to meet the bidding deadline of July 29.

From the Bangor Daily News: http://bangordailynews.com/2016/12/13/business/biomass-bailout-to-restart-former-covanta-plants-boost-aroostook-generators/

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