Archived Articles

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"Investor puts biomass outfit on the block"

January 27, 2017 - SparkSpread Exclusive

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Denham Capital has put up for sale Greenleaf Power, a Sacramento, Calif.-based biomass power generation company. 

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BNP Paribas and New York advisory firm Ansonia Partners (formerly called ERM Capital) are advising on the sale process, SparkSpread has learned. 

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Adam Carte, an operating partner/senior advisor in Denham’s portfolio services group, is running the process on behalf of the private equity firm, according to an industry source. 

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Greenleaf is a legacy U.S. power investment from 2007. 

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An external spokesman for Denham and an official at BNP Paribas declined comment. 

 

Greenleaf owns five contracted biomass facilities, according to the company’s website. 

 

They include three plants in California: Desert View (47 MW), Honey Lake (30 MW) and the idled Tracy (20.5 MW) facility; plus St.-Felicien, a 21 MW facility in Quebec; and Plainfield, a 37.5 MW plant in Connecticut. 

 

Greenleaf in 2014 closed a $100 million mezzanine credit facility to finance a push to acquire biomass assets. 

 

Babson Capital Management was the agent on the facility. 

 

Denham Capital’s plans to sell Greenleaf were first reported by SparkSpread on Feb. 17.