Covanta Acquires Biomass Energy Facilities

Covanta Holding Corp., a leader in development, operation and ownership of energy-from-waste renewable energy facilities, has announced that it will purchase two biomass energy facilities from co-owners Ridgewood Maine LLC and Indeck Energy Services Inc.

The two nearly identical facilities, located in West Enfield and Jonesboro, Maine, will add a total of 49 gross megawatts to Covanta’s renewable energy portfolio, which currently includes six biomass facilities and 38 energy-from-waste facilities.

The plants combust biomass to produce renewable electricity. Biomass may include woodchips, sawdust, bark, tree trimmings, agricultural waste and wood recovered from construction demolition activities.  

The closing of the deal is contingent on certain regulatory approval and approval by Ridgewood’s shareholders. Conditions are expect to be met by the end of the year.

More information is available at www.covantaholding.com.