Japanese trading firm Marubeni, through its fully owned subsidiary Marubeni Sustainable Energy, has purchased a 16MW wood chip biomass-fueled power plant located in Springfield, New Hampshire. The plant had been operated by Hemphill Power & Light.
The purchase of the plant is part of Marubeni’s value-focused acquisition strategy to acquire and develop clean, renewable power in its growing North American portfolio.
Marubeni already owns and operates two wood chip biomass-fueled power plants in North America, one of which is an 18MW plant located in Fairhaven, California, while the other is a 16MW facility in Whitefield, New Hampshire.
The Japanese firm believes that its experience and expertise at the Whitefield power plant enables it to achieve operation with high efficiency. By installing new equipment at the Springfield facility, Marubeni is hoping to reduce nitrogen oxide emissions by more than 70% annually.
The company aims to expand its renewable energy portfolio, as well as its energy supply business, through distributed generation facilities.