AltaGas Power Sells Equity In 2 Plants

Officials with Atlantic Power Corp. recently announced  an agreement to acquire equity ownership in Craven County Wood Energy in North Carolina and Grayling Generating Station in Michigan for $20 million from AltaGas Power Holdings, subject to approval by the Federal Energy Regulatory Commission. Closing is expected by mid-2019. Craven County Wood Energy is a 48 […]

Officials with Atlantic Power Corp. recently announced  an agreement to acquire equity ownership in Craven County Wood Energy in North Carolina and Grayling Generating Station in Michigan for $20 million from AltaGas Power Holdings, subject to approval by the Federal Energy Regulatory Commission. Closing is expected by mid-2019.

Craven County Wood Energy is a 48 MW biomass plant in  service since October 1990. Atlantic Power will acquire a 50% interest in the plant, with the remaining 50% interest held by CMS Energy. Craven County has a Power Purchase Agreement (PPA) with Duke Energy Carolinas that runs through December 2027. The plant burns wood waste, including wood chips, poultry litter, forestry residues, mill waste, bark and sawdust.

Grayling Generating Station is a 37 MW biomass plant in service since June 1992. Atlantic Power will acquire a 30% interest in the plant from AltaGas, and remaining interests are held by Fortistar (20%) and CMS Energy (50%). Grayling has a PPA with Consumers Energy, the utility subsidiary of CMS Energy, which runs through December 2027. The plant burns wood waste from local mills, forestry residues, mill waste and bark. Both plants are operated by an affiliate of CMS Energy.

Tags: , , , , , , , ,

POST A COMMENT

Your email is never published nor shared. Required fields are marked *

*
*

Subscribe

Looking to subscribe to Wood Bioenergy magazine? It's simple, just follow the link to our online subscription form and complete the required fields and submit. If you'd rather talk to a real live human being, feel free to give us a call at (800) 669.5613'

Contact

To contact Wood Bioenergy magazine, either call (334) 834-1170 or email us at [email protected]

TAG CLOUD