Sacramento’s Greenleaf Power announces deal to acquire Connecticut facility

Sacramento-based Greenleaf Power LLC, an owner and operator of renewable energy power plants, said Wednesday it is acquiring Connecticut-based Plainfield Renewable Energy.

Financial terms of the deal were not disclosed.

In a media release, Greenleaf said Plainfield Renewable Energy has a net electricity generation capacity of about 37.5 megawatts, capable of providing energy for as many as 280,000 homes. The facility became operational in December 2013, using biomass as its fuel and selling its electrical output to Connecticut Light & Power.

It was Greenleaf’s sixth acquisition in North America and its second on the East Coast. Greenleaf, started in 2010 and employing more than 150, said it expects to finalize the transaction later this year.

Hugh Smith, Greenleaf president, said in a statement: “Plainfield solidifies Greenleaf Power’s presence throughout North America as the leading owner-operator of biomass power facilities.”

Greenleaf, which also oversees facilities in California and Canada, has invested in and developed projects that gather biomass as fuel to produce electricity. Biomass materials include residual wood products from construction and demolition sites, tree prunings and stumps, as well as vines, corn and rice shucks.

This story was originally published March 25, 2015 at 10:39 AM with the headline "Sacramento’s Greenleaf Power announces deal to acquire Connecticut facility."