Greenleaf Power buys 19 MW Tracy, Calif., biomass plant
Greenleaf Power, an owner and operator of green energy power plants and a portfolio company of Denham Capital, announced that it has finalized the purchase of the Tracy Biomass Plant located in Tracy, Calif., approximately 45 miles east of Oakland.
Tracy Biomass is Greenleaf Power’s fourth California biomass plant. Greenleaf Power owns and operates the 47 MW Desert View plant in Mecca, Calif., 30 MW Honey Lake plant in Wendel, Calif. and 28 MW Eel River plant in Scotia, Calif.
“With the addition of the Tracy facility, Greenleaf Power has more than 120 MW of baseload renewable power, and operates these facilities to maximize efficiencies across its platform,” said Hugh Smith, president of Greenleaf Power.
The Tracy facility generates 19 MW of electricity, which is capable of providing baseload renewable energy for as many as 19,000 homes in Northern California. The biomass facility is one of the closest to Oakland and the Silicon Valley and sells its electrical output to Pacific Gas & Electric under a long-term agreement.
Greenleaf Power is focused on investing in and developing projects that gather biomass that would otherwise be openly burned or landfilled and converting it to renewable energy. Greenleaf Power’s experienced team of clean energy professionals optimizes the profitability, efficiency and output of its plants by undertaking operational improvements, fuel procurement initiatives and revenue enhancements.
“Biomass energy is one of the few renewable technologies that provides baseload renewable energy,” said Hugh Smith. “While most other renewable sources are intermittent, biomass provides reliable predictable power under all conditions throughout the year.”
Greenleaf Power purchased the Tracy facility from U.S. Renewables Group, which operated the Tracy plant since 2007. Financial terms of the transaction were not disclosed.