Sacramento biomass company to buy Colmac
Mecca plant seen as key acquisition for Greenleaf
December 14, 2010
Greenleaf Power, a Sacramento-based company that develops and operates biomass power plants, announced today that it has reached an agreement to buy Colmac Energy's 47-megawatt biomass plant in Mecca.
Pending regulatory approval, Greenleaf will acquire 100 percent of the stock of Colmac Energy. The financial terms of the transaction were not disclosed. "The Colmac facility is a significant acquisition for Greenleaf Power," said Hugh Smith, president of Greenleaf. "It will be a flagship plant for our growing fleet which now totals over 100 MW of capacity.
American Consumer Industries, the majority shareholder of Colmac, has operated the plant since its went online in 1992. The plant, one of the largest biomass facilities in California, sells its power to Southern California Edison under a long-term agreement. The plant is fueled primarily using clean diverted wood waste, green waste and agricultural residues. The transaction is expected to close after receipt of required regulatory approvals.