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FORTISTAR has closed on its acquisition of six landfill-gas-to-energy projects acquired from an affiliate of the Algonquin Power Income Fund. The purchase price was $11.3 million. The six projects represent approximately 18 megawatts of power generation capacity and are part of FORTISTAR’s continuing long-term commitment to expand its methane and renewable energy sector. These projects expand FORTISTAR’s ownership in
Energy from FORTISTAR’s portfolio is now sufficient to provide electricity for 250,000 homes. The destruction of methane gas from FORTISTAR’s portfolio is equivalent to destroying 9.3 million tons of carbon dioxide per year which, in turn, is equivalent to the carbon dioxide emitted from 1.6 million cars, the production of 990 MWs of electricity produced from coal or the planting of 2.3 million acres of trees (the equivalent to an area equal to two-thirds the size of Connecticut).
White Plains, N.Y.-based FORTISTAR, through its FORTISTAR Methane Group, now owns 50 landfill-gas-to-energy projects, representing approximately 12 percent of the developed market. It is one of the largest independently owned landfill-gas-to-energy companies in the country. FORTISTAR’s portfolio is a combination of Gas Recovery Systems, Minnesota Methane, United Gasco and Algonquin Power Income Fund projects.