Under the terms of the MoU, Bluesphere will build and operate a 5.2MW waste-to-energy plant on the same premises in the Boston metropolitan area while taking advantage of the site’s existing operations.
The 5.2MW facility will be developed to convert organic waste into clean electricity to power Massachusetts.
Bluesphere CEO Shomi Palas said, "Our partner has already developed much of the critical infrastructure for a waste-to-energy project and this is not only expected to shorten our timeline to develop the project from start to finish, it is also expected to reduce costs and increase profitability for the project."
According to SBI Energy, in 2012 the thermal and biological segments reached $6bn and will reach $29bn by 2022.
Electricity generated by Bluesphere from biogas derived from organic waste, which is mostly food waste, will be sold to electric companies through long-term power purchase agreements.
