Greenleaf Power buys Tracy biomass plant from US Renewables

Greenleaf Power, a portfolio company of Denham Capital, said June 3 that it has finalized the purchase of the Tracy Biomass Plant located in Tracy, Calif., approximately 45 miles east of Oakland.

Tracy Biomass is Greenleaf Power’s fourth California biomass plant. It already owns and operates the 47-MW Desert View plant in Mecca, Calif., the 30-MW Honey Lake plant in Wendel, Calif., and 28-MW Eel River plant in Scotia, Calif.

“With the addition of the Tracy facility, Greenleaf Power has more than 120 megawatts of baseload renewable power, and operates these facilities to maximize efficiencies across its platform,” said Hugh Smith, president of Greenleaf Power.

The Tracy facility generates 19 MW, which is capable of providing baseload renewable energy for as many as 19,000 homes in Northern California. The biomass facility is one of the closest to Oakland and the Silicon Valley and sells its electrical output to Pacific Gas and Electric under a long-term agreement.

Greenleaf Power said it is focused on investing in and developing projects that gather biomass that would otherwise be openly burned or landfilled and converting it to renewable energy.

“Biomass energy is one of the few renewable technologies that provides baseload renewable energy,” said Smith. “While most other renewable sources are intermittent, biomass provides reliable predictable power under all conditions throughout the year.”

Greenleaf Power purchased the Tracy facility from US Renewables Group, which operated it since 2007. Financial terms of the transaction were not disclosed.

With its corporate headquarters located in Sacramento, Calif., Greenleaf Power directly employs over 120 Californians and supports approximately 480 full-time Californians dedicated to supplying the facilities’ fuel requirements.

Denham Capital is a leading energy-focused global private equity firm, advising funds with approximately $7.3bn of invested and committed capital. Denham makes direct investments in the energy and resources sectors, including businesses involving renewable and thermal power generation, oil and gas, and metals and minerals.

US Renewables Group is one of the largest investment firms focused exclusively on the renewable energy industry. It was founded in 2003 and has over $750m of capital under management to invest in the renewable power, biofuels, and renewable infrastructure sectors, said the company website.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.