Green Gas Americans acquires Lime Energy landfill gas project
Lime Energy and Green Gas Americas Inc. have announced that Green Gas has acquired Lime Energy's 2.8 megawatt (MW) landfill-gas-to-energy project located in Charlotte County, Fla., through the acquisition of Lime Energy's subsidiary, GES-Port Charlotte LLC, which owns the project. Lime has applied the net proceeds from the sale to pay off the PNC Bank term loan used to fund the construction of the facility.
The project is located on the Charlotte County landfill and sells power to Orlando Utilities Commission through a long-term power purchase agreement. The project won the EPA's Landfill Methane Outreach Programs' Landfill Project of the Year for 2011.
"We have been privileged to partner with Charlotte County on this project," said John O'Rourke, chief executive officer of Lime Energy. "Green Gas' deep U.S. and international development and operational experience in the landfill sector make it the ideal owner for the project."
"This acquisition marks an important milestone for Green Gas Americas to further expand our company's mission of building a portfolio of landfill gas to energy projects," said Duncan Cox, Green Gas president. With this acquisition, Green Gas International, the owner of Green Gas Americas, adds to its portfolio of renewable energy projects, which now exceeds 120 MW of projects that are owned operated and maintained by the company. Green Gas uses its expertise to develop methane waste gas to power projects to the best interest of all stakeholders.