Patriot Energy Services has signed a contract to purchase the 19MW Greenville Steam Power Plant in Greenville, Maine for an undisclosed amount.
The plant was shut down last year for unknown reasons but following the positive on-site survey by Patriot Energy’s team, the company has agreed to sign the deal.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Patriot Energy Services CEO Steven C Johnson said, "The plant has proven to be very profitable in the past and without the debt service of past financial obligation this will be very profitable again."
Patriot Energy has plans to improve the facility’s infrastructure, the 99 acres attached to the property, and the extra steam generated to create and support a green house for commercial growers to create jobs in the region.
The cost to build this facility new will cost Patriot Energy over $57m and it will change the name of the plant to Shannon.
Patriot Energy has its own financial resources for funding and operations and the plant can be put into operation immediately.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe biomass plant was retrofitted in 2006 at the cost of over $7m to meet all the current green energy standards and EPA regulations.
Patriot Energy is a US based company that supplies wood waste for use in biomass power plants.
