American Renewables sells biomass-power project to Southern Power
January 1, 1970
Posted October 9, 2009, at 8:12 a.m. CST
American Renewables LLC has agreed to sell its Nacogdoches Power LLC biomass project, located in Sacul, Texas, to Southern Power, a subsidiary of Southern Co. Pursuant to the agreement, Southern Power will own, construct and operate the 100 megawatt biomass facility; American Renewables will provide consulting and advisory services to help ensure a smooth transition and the successful construction of the project. Groundbreaking is expected in the fall of 2009 and commercial operation is projected for the summer of 2012.
"We are glad that Southern Power has chosen Nacogdoches Power as its first investment in a dedicated biomass facility. This transaction will ensure the successful construction and operation of the Nacogdoches Power project and includes many economic and environmental benefits for Nacogdoches County and the residents of Austin, Texas," said Jim Gordon, CEO of American Renewables.
Nacogdoches Power will utilize a variety of biomass materials--including forest residue from the surrounding areas, wood processing residues and clean municipal wood waste--to generate renewable energy. The plant's output is committed through a 20-year power purchase agreement with Austin Energy, the municipal utility owned by and serving Austin. When completed, the project will be one of the largest biomass-fueled electric generating facilities in the U.S.
"The sale of the Nacogdoches Power project to Southern Power will allow American Renewables to devote additional resources to the development of its biomass projects in later-stage development--including those in Gainesville, Fla. and Hamilton County, Fla.--as well as to more aggressively pursue additional opportunities," Gordon said. "This transaction enables American Renewables to aggressively pursue its goal of placing significant biomass generation assets into operation in the United States."
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