Global Ampersand owns and operates the El Nido and Merced facilities, two biomass facilities that generate 12.5MW each. Both facilities are located in central California and Global Ampersand has entered into a long-term power purchase agreement with California’s Pacific Gas and Electric Company to sell 100% of its power.
Aspen Power Plant
Aspen Power plant is a 57MW facility which represents Texas’ first biomass electric generation plant. Aspen Power will interconnect to the Electric Reliability Council of Texas (ERCOT) electric grid to sell its electricity under a long-term power purchase agreement. Aspen Power’s sister company, Angelina Fuels will provide the plant with about 1,500 tons of biomass per day from harvesting, sawmill and municipal cleanup activities in the local area. Akeida Capital provided a $14.1MM junior loan to provide capital to complete construction and commission this landmark project.
Blue Lake Power
Blue Lake Power owns and operates the Blue Lakes facility, a 12.5MW biomass plant that had previously been shut down in 1999. Blue Lake, located in Northern California, has entered into a long-term power purchase agreement with San Diego Gas and Electric to sell 100% of the electricity generated by the plant.
Akeida provided a senior loan in order to complete refurbishment of the facility and enable it to be commissioned by providing the working capital necessary to do so and by expanding the plant’s fuel inventory. The Blue Lake facility also received a $2MM grant from the US Forestry Department as part of the American Reinvestment and Recovery Act stimulus package.