Cate Street Capital commences work on 75MW biomass power plant in US

The company will build the power plant on the Androscoggin River, on the former site of the Fraser Papers pulp mill.

Cate Street Capital has commenced work to build its new 75MW biomass plant, Burgess BioPower (Berlin Station) in New Hampshire, US

The developer has arranged $275 million financing to fund the construction of the biomass power plant. Cate Street has secured all the required permits and approvals to begin construction of the project.

The company will build the power plant on the Androscoggin River, on the former site of the Fraser Papers pulp mill. Upon completion, the plant will burn about 750,000 tonnes of low grade wood per year.

Under terms of a 20-year power purchase agreement, the power generated from the plant will be sold to the local utility the Public Service Company of New Hampshire. The biomass power project is expected to begin commercial operations by 2013.

Cate Street Capital is an investment company for sustainable green technologies and environmentally friendly business solutions.