CH Energy Group Subsidiary Acquires Upstate NY Biomass Plant

Poughkeepsie, New York []Central Hudson Enterprises Corporation (CHEC), a subsidiary of CH Energy Group, Inc. purchased the majority interest in a 19-megawatt (MW) upstate New York biomass electric generating plant for $9.8 million from Dallas, Texas-based Catalyst Renewables Corporation. Lyonsdale Biomass, which was constructed in 1992 and burns wood to generate electricity, lies about 35 miles northwest of Utica, New York, in the Lewis County community of Lyonsdale. The plant, which employs 22 full-time employees, has diversified its fuel sources by developing long-term relationships with more than 25 logging firms to supply wood chips for fuel. In addition to the power purchase agreement (PPA), Lyonsdale’s steam byproduct is sold under contract to a nearby paper plant. Catalyst will continue to own a minority share and provide asset management services to the facility.
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