SACRAMENTO, Calif .– (COMMERCIAL THREAD) – Greenleaf Power, owner and operator of green energy power plants and a holding company of Denham Capital, a leading global energy and resource-focused private equity firm, today announced that it has completed the purchase of the Plainfield Renewable Power Plant located in Plainfield, Conn.
“The acquisition of Plainfield Renewable Energy will mark Greenleaf Power’s sixth acquisition in North America. The Plainfield facility will increase the size of Greenleaf and significantly improve both contract revenues and the average life of its portfolio PPAs, ”said Hugh Smith, President and CEO of Greenleaf Power. “Plainfield consolidates Greenleaf Power‘s presence across North America as the primary owner and operator of growth-oriented biomass facilities.
Plainfield Renewable Energy has a net power generating capacity of approximately 37.5 megawatts. It is capable of providing basic renewable energy to 280,000 homes. The facility uses clean biomass as fuel and sells its electrical output to Connecticut Light and Power under a long-term offtake agreement.
Greenleaf Power’s existing facilities are located in California and Quebec, Canada. The company’s experienced team of clean energy professionals have proven their ability to optimize the profitability, efficiency and production of its plants by undertaking operational improvements, fueling initiatives and revenue increases. .
“Plainfield Renewable Energy adds to our portfolio of biomass power plants and increases our total renewable energy capacity to over 180 megawatts,” added Smith. “This facility shows great promise and we look forward to working closely with the community of Plainfield to be good neighbors and partners.”
Greenleaf Power is focused on investing and developing projects that collect biomass that would otherwise be open-pit or buried and convert it into renewable energy. The experienced management team is made up of clean energy professionals focused on optimizing the performance of biomass power plants.
“Biomass energy is one of the few renewable technologies to provide basic renewable energy,” Smith noted. “While most other renewable sources are intermittent, biomass provides reliable and predictable energy in all conditions throughout the year.”
Greenleaf Power purchased the Plainfield facility from Leidos, Inc., which has owned and operated the plant since it became operational in late 2013. Greenleaf’s financial advisor is EA Markets.
About Greenleaf Power
Greenleaf Power acquires, develops, owns and operates energy projects that use waste biomass as fuel. Greenleaf Power currently owns and operates approximately 145 megawatts of biomass production assets in the United States and Canada. Headquartered in Sacramento, California, Greenleaf Power directly employs over 140 employees and supports approximately 450 additional full-time employees dedicated to supplying facility fuel needs. Greenleaf Power is backed by Denham Capital, one of the world’s leading energy-focused private equity firms. For more information on Greenleaf Power, visit www.greenleaf-power.com.
About Denham Capital
Denham Capital is a leading global energy and resources focused private equity firm with over $ 7.9 billion in invested and committed capital in seven fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The company makes direct investments in the energy and resource sectors, including businesses involving power generation, oil and gas, and mining, across the globe and at all stages of the cycle life of the company. Denham’s investment professionals apply in-depth operational and industry experience and work in partnership with management teams to achieve long-term investment goals. For more information on Denham Capital, visit www.denhamcapital.com.