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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. 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. |
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