updated 11/7/09
LAIDLAW TAKES ITS BIOMASS IDEA TO MASSACHUSETTS
Laidlaw Biopower, LLC, an affiliate of Laidlaw Energy Group, Inc. (New York, NY), has signed a memorandum of understanding with an affiliate of a Massachusetts-based private equity firm to initially lease and eventually acquire an operating oil and gas-fired power plant in southeastern Massachusetts, for the purpose of converting the plant to biomass-fired power. The output of the converted plant will serve the electric and thermal needs of a nearby manufacturer of solar PV products, with the balance of the electricity generated to be delivered to the electric grid. Laidlaw said that it has concurrently executed a letter of intent with the PV company, specifying the terms of a proposed 20-year PPA that the parties intend to negotiate. “This project is a win-win,” said Laidlaw President and CEO Michael Bartoszek. “Not only does it offer significant environmental benefits by converting a fossil fuel plant to a renewable fuel, it also helps support a leading cleantech company make innovative products to further support the shift to alternative energy.”
