Lime Energy (NASDAQ: LIME) and Green Gas Americas, Inc., today announced that Green Gas has acquired Lime Energy’s 2.8 MW landfill-gas-to-energy project located in Charlotte County, Florida, through the acquisition of Lime Energy’s subsidiary, GES-Port Charlotte, LLC, which owns the project. Lime has applied the net proceeds from the sale to pay off the PNC Bank term loan used to fund the construction of the facility.
The project is located on the Charlotte County landfill and sells power to Orlando Utilities Commission through a long-term power purchase agreement. The project won the EPA’s Landfill Methane Outreach Programs’ Landfill Project of the Year for 2011.
“We have been privileged to partner with Charlotte County on this project,” said John O’Rourke, chief executive officer of Lime Energy. “Green Gas’ deep U.S. and international development and operational experience in the landfill sector make it the ideal owner for the project.”
“This acquisition marks an important milestone for Green Gas Americas to further expand our company’s mission of building a portfolio of landfill gas to energy projects,” said Duncan Cox, Green Gas’ President. With this acquisition, Green Gas International, the owner of Green Gas Americas, adds to its portfolio of renewable energy projects, which now exceeds 120 MW of projects that are owned operated and maintained by the company. Green Gas uses its expertise to develop methane waste gas to power projects to the best interest of all stakeholders.About Lime Energy Co. Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business customers, Lime designs and implements direct install programs for our utility clients which consistently exceed program savings goals. Our award-winning, integrated services programs provide utilities with reliable energy efficiency resources while delivering the highest levels of customer satisfaction . This next generation approach is helping utilities across the country to go deeper and broader with the cheapest, cleanest and fastest energy resource that we have – energy efficiency. About Green Gas Americas, Inc. Green Gas Americas, Inc., a subsidiary of Green Gas International ( www.greengas.net) is committed to climate change mitigation by converting harmful methane waste emissions into valuable energy. The company has decades of successful experience of gas drainage, conversion, treatment and management from various sources such as coal mines, landfills and waste water facilities. With a global team of 500 enthusiastic employees, Green Gas operates over 50 clean energy projects around the world. The valuable experience in utilising low quality of methane (waste) gas by converting it into the most suitable energy (power, heat or fuels) is a unique asset. This enables profitable exploitation of challenging gas sources and upgrade of the gas to future proof cleaner fuels. Green Gas provides solutions for all phases from gas extraction, energy generation to the sale of the electricity, heat and carbon credits realized; project design; engineering; project management, procurement and construction; as well as operations and maintenance. The company develops sustainable energy projects by using the latest technology to minimize environmental impact. The strong growth in demand in the world for renewable energy sources provides excellent settings for Green Gas to further expand its global activities.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV