Greenleaf Power to Buy Connecticut Biomass Generator From Leidos

(Bloomberg) — Greenleaf Power LLC, a producer of energy
from farm and construction waste majority backed by Denham
Capital Management, has agreed to buy a power plant in
Connecticut from Leidos Holdings Inc. for an undisclosed sum.

The acquisition of the Plainfield Renewable Energy biomass
plant is Greenleaf’s sixth in North America and second on the
East Coast, the Sacramento, California-based company said
Wednesday in a statement. With the purchase, Greenleaf owns
about 180 megawatts of generating capacity. The deal is expected
to close this year.

The 37.5-megawatt Plainfield power plant, which opened in
December 2013, provides electricity to Connecticut Light & Power
Co. under a long-term contract.

“The power-purchase agreement that’s in place with
Connecticut Light & Power is a big component of our interest in
the project, as well as the strong market for biomass fuel,”
Robert Pennington, vice president of finance for Greenleaf, said
in a telephone interview.

Greenleaf last year arranged $100 million in financing to
acquire more power plants.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jim Efstathiou Jr., Robin Saponar

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