Greenleaf Power buys biomass power plant in California

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Sacramento, Calif., December 14, 2010 — Greenleaf Power, an owner and operator of biomass power plants, reached an agreement to purchase 100 percent of the stock of Colmac Energy.

American Consumer Industries, the majority shareholder of Colmac, has operated the Southern California plant since its construction and initial start-up in 1992.

The 47-MW facility is one of the largest biomass facilities in California and sells its electrical output 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. Financial terms of the transaction were not disclosed.

Greenleaf Power is focused on the acquisition and development of power plants fueled by residual biomass feedstock. Greenleaf’s experienced team of clean energy professionals optimize efficiency and production of the plants it acquires by undertaking operational and capacity improvements, fuel procurement initiatives and revenue enhancements.

Colmac is the third biomass acquisition by Greenleaf Power. Earlier this year, Greenleaf purchased the 30-MW Honey Lake biomass plant in Wendel, Calif. as well as a 28-MW biomass plant in Scotia, Calif.

“The Colmac facility is a significant acquisition for Greenleaf Power,” said Hugh Smith, president of Greenleaf Power. “It will be a flagship plant for our growing fleet which now totals over 100 MW of capacity — and will provide the critical mass necessary to leverage the synergies that naturally result from the ownership of multiple facilities.”

Greenleaf Power is backed by Denham Capital, a leading global energy-focused private equity firm, which has made several renewable energy investments including Gradient Resources, SunRay Renewables, BioTherm Energy, Big Island Carbon, VitAG and Plantation Energy.

“Denham continues to see positive momentum in the renewable energy space and Greenleaf is well positioned to capitalize on the opportunities in the market,” said Scott Mackin, partner, Denham Capital. “While wind and solar capture much of the attention in renewable energy, bioenergy remains a vibrant, but often overlooked mainstay of our clean energy future.”

Biomass fuel used by Greenleaf Power is a renewable energy source consisting of organic material from plants. Biomass power facilities harness the energy stored in such organic materials to produce baseload, renewable power.

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