Investor and operator found for proposed biofuel plant in Hampden
A Maryland-based biofuel company says it has found an equity investor to build a $69 million solid waste recycling and biofuels processing facility in Hampden.
A group represented nearly 200 Maine towns in the area partnered in February with Catonsville, Md.-based Fiberight LLC to build a facility to replace the Penobscot Energy Recovery Co. waste-to-energy plant in Orrington, according to the Bangor Daily News.
Fiberight CEO Craig Stuart-Paul said during the municipal group’s annual meeting Wednesday that Fiberight has negotiated a 15-year deal with Covanta Energy Corp., which would construct and operate the plant. Covanta, based in Haverhill, Mass., owns and operates more than 40 waste-to-energy facilities.
But in order for the Hampden plant to be built, the member municipalities must be able to commit to providing a minimum of 150,000 tons of trash per year, according to the BDN. Currently, the municipalities send about 180,000 tons of waste to PERC in Orrington each year. The threshold must be met by the middle of next year for the plan to go forward.
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