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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. 

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Ansonia Partners LLC

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Private investment marketing and other broker-dealer services are currently offered through a partnership between Ansonia Partners LLC ("Ansonia Partners") and its affiliates and RainBridge Securities LLC Member: FINRA/SIPC: FINRA/SIPC ("RainBridge"). All such services offered by Ansonia Partners associated persons are done so in their capacities as registered representatives of RainBridge. Ansonia Partners is independent and unaffiliated with RainBridge. To check the background of RainBridge Securiities and its representatives, visit FINRA’s BrokerCheck. BCP – Summary Plan Disclosure. 

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There are material risks associated with investing in private placements in sectors such as energy, infrastructure, renewable power, power storage, distributed energy, microgrids, hydro generation, pumped storage, thermal generation, and energy tech.  They are speculative, illiquid, and carries a high degree of risk, including financing risks, potential adverse tax consequences, general economic risks, development risks, and the potential for loss of the entire amount invested. Past performance is not indicative of future results. 

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