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| JUNE 2008
Energy Holdings to acquire coal and waste fuel power generation facility Energy Holdings Limited LLC (EHL) has signed a Letter of Intent (LOI) to acquire a 25 megawatt electric generation plant from Goodland Energy Resources, LLC (GER) for $42.0 million. The plant is located in Sherman County, Kansas and is approximately 80 percent complete and designed to burn coal and waste derived fuel that normally is disposed of in municipal landfills. The Goodland plant will provide power and steam to a newly constructed ethanol facility and other industrial facilities in the area and is expected to be fully operational by June 30, 2008. The facility is designed to be fueled by coal and biomass, but can also generate electricity and industrial steam from diversified fuel sources such as railroad ties, tires and other waste products. Since the plant utilizes waste for fuel, emissions credits will be created - an important element of EHL’s desire to produce eco-friendly energy and an asset with significant future value. The LOI provides EHL with exclusivity for a specified period and is contingent upon completion of final due diligence, entering into a definitive purchase and sale agreement for the plant, obtaining acquisition financing and other closing conditions. |
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