Camco Clean Energy completes acquisition of Idaho facility
London-based Camco Clean Energy plc recently announced it completed the acquisition of a 2.1-megawatt (MW) biogas facility in Twin Falls, Idaho. The facility is located less than 30 miles from the company’s 4-MW biogas plant near Jerome, Idaho.
The acquisition was first announced in late June. According to information released by Camco Clean Energy at that time, it had agreed to purchase the dairy biogas-to-power facility for up to $3.2 million, subject to the satisfactory transfer of environmental permits and the land lease with the dairy owner. In its latest announcement, Camco Clean Energy noted that the price was revised to $2.9 million.
The company noted that the facility features an anaerobic digester originally developed by Cargill Inc. The plant was commissioned in 2008 and was being operated by the same contractor that manages Camco Clean Energy’s Jerome facility. In June, the company indicated that contractor would continue to operate the facility once the acquisition was complete. Information released by Camco Clean Energy at also specified that the site lease could be renewed for up to 12 years subject to the same terms and conditions. The facility’s power purchase agreement with the local utility is currently set to expire in 2020 but is eligible to be extended at published rates at the time of extension.
The completion of this transaction alongside our recent issuance of the first carbon credit offsets in the Californian market now provides the company with a solid basis for growth in North America,” said Scott McGregor, CEO of Camco Clean Energy. “We look forward to expanding both our biogas projects and Californian carbon credit offset businesses in 2014."