The plant situated in an industrial park, currently serves the thermal energy needs of a leading developer and manufacturer of photovoltaic products and technology.
Laidlaw has concurrently executed a letter of intent with the photovoltaic company which specifies the business terms of a contemplated 20 year power purchase agreement that the parties intend to negotiate. Laidlaw intends to make additional details available on the project upon execution of the power purchase and lease agreements.
Laidlaw plans to execute a lease and assume control of the power plant within the next 120 days. The lease will allow Laidlaw to acquire the plant upon receipt of the necessary permits and approvals to operate it as a biomass plant. Upon execution of the contemplated lease, the power plant will continue to be operated for Laidlaw for Veolia Energy pursuant to an existing O&M Agreement.
An additional element of the project is Laidlaw’s intent to combine solar power with its intended biomass project. Laidlaw intends to install solar panels representing about 1.5 MW of capacity on the roofs of two of the buildings at the manufacturing facility. The power generated by the solar panels is planned to be used on site, with any excess sold to the grid.
Commenting on the project, Laidlaw President & CEO Michael B. Bartoszek stated, “This project is a win-win. Not only does it offer significant environmental benefits by converting a fossil fuel plant to a renewable fuel, it also helps support a leading cleantech company make innovative products to further support the shift to alternative energy.”