Energy Investors Funds acquires 30 MW biomass plant
Energy Investors Funds (EIF), has acquired a 30-megawatt biomass power project that is under development in Watertown, Conn., from Tamarack Energy. The acquisition was done via EIF’s United States Power Fund III. Terms of the transaction were not disclosed.
As part of the acquisition some project management staff from Tamarack will transfer to EIF. The plant is expected to begin commercial operations in about two years.
Once operational the facility, which will generate electricity by burning small tree branches, stumps, old cargo pallets and trees taken down as part of forestry management programs, will sell all of its output to Connecticut Light & Power.
EIF controls 4,000 megawatts of operating power assets, including 16 hydroelectric facilities and a portfolio of 19 landfill gas-fired facilities across the United States. The fund controls another 2,200 megawatts of power assets under development or construction.
