Fortistar acquires six landfill gas-to-energy projects
Fortistar closed on its acquisition of six landfill
gas to energy projects acquired from an affiliate of the Algonquin Power
Income Fund. The purchase price was $11.3 million.
The six projects represent approximately 18 megawatts
of power generation capacity and are part of Fortistar’s continuing long-term
commitment to expand its methane and renewable energy sector. These projects
expand Fortistar’s ownership in California and New England, two key areas
in the country that are aggressively supporting the expansion of green/renewable
Energy from Fortistar’s portfolio is now sufficient
to provide electricity for 250,000 homes. The destruction of methane
gas from Fortistar’s portfolio is equivalent to destroying 9.3 million
tons of carbon dioxide per year which, in turn, is equivalent to the
carbon dioxide emitted from 1.6 million cars or the planting of 2.3 million
acres of trees.
The White Plains, New York based Fortistar, through
its Fortistar Methane Group, now owns fifty landfill gas to energy projects,
representing approximately 12% of the developed market.