December 15, 2017

Stored Solar pays off some of its debt to logging firms

Stored Solar has paid about one-third of its estimated debts to area logging firms, with about $400,000 estimated to be outstanding, according to a report in The Quoddy Tides.

Dana Doran, executive director for the Professional Logging Contractors of Maine, told the newspaper that the owner of biomass plants in Jonesboro and West Enfield had owed an estimated $600,000 to about a half dozen loggers in August.

He added that a couple of the unpaid loggers had filed lawsuits, a claim that a Stored Solar owner denied in an email to the newspaper.

Kathy Harmon, bookkeeper for Ashley & Harmon Logging in East Machias, said Stored Solar has just "settled up" with her company and noted the firm is continuing to ship biomass to the Stored Solar Jonesboro plant.

"We want the Jonesboro plant," she said. "We need this here."

Bill Harrington, U.S. director of Stored Solar's Paris-based parent, Capergy, said that purchasing, upgrading and developing Stored Solar's plants in Jonesboro and West Enfield, which were idled when purchased in October 2016 from Covanta, has required considerable investment.

Stored Solar is seeking other businesses, or "co-hosts," to locate on its 140-acre property at its Jonesboro biomass energy plant. In November, The Quoddy Tides, reported the goal is to attract businesses that would purchase the biomass energy plant's byproducts, such as heat, while receiving cheaper power.


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