Biomass renewable energy company, Greenleaf Power has reached an agreement to purchase Colmac Energy. Colmac is a 47-megawatt facility and is one of the largest biomass facilities in California. It has operated the Southern California plant since its construction and initial start-up in 1992 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.
Greenleaf Power is focused on the acquisition and development of power plants fueled by residual biomass feedstock. Colmac is the third biomass acquisition by Greenleaf Power. Earlier this year, Greenleaf purchased the 30-megawatt Honey Lake biomass plant in Wendel, CA as well as a 28-megawatt biomass plant in Scotia, CA.
Hugh Smith, president of Greenleaf Power said, “The Colmac facility is a significant acquisition for 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 acquires, develops, owns and operates power projects that utilize residual biomass as fuel. Greenleaf Power currently owns and operates approximately 60 megawatts of biomass generating assets in California. Greenleaf Power has established independent management and recently relocated its corporate headquarters from Illinois to Sacramento, CA.
Greenleaf Power is backed by Denham Capital, a leading global energy-focused private equity firm. Biomass power plants use controlled, low-emission conditions to generate electricity. In addition, biomass facilities divert waste from landfills and displace the greenhouse gas emissions of the methane that would result from the decomposition and decaying of organic materials from landfills, forest accumulation or composting.