Latham, N.Y.-based ReEnergy Holdings completed its $88 million purchase of five biomass facilities in the Northeast.
ReEnergy bought the facilities from Montreal-based Boralex, Inc., which also will receive $5 million from cashed renewable energy credits.
The biomass purchase gives ReEnergy power plants and fuel processing facilities with a total installed capacity of 240 megawatts in the four states. Its Connecticut facility is in Sterling.
Boralex decided to sell its stake in biomass to concentrate on other renewable energy technologies, such as wind, solar and hydroelectric.
