Energy firm buys 3 Maine sites

ASHLAND – A Quebec energy-producing company has purchased three wood-burning plants in Maine, two of them in Aroostook County, according to an announcement by Boralex Inc. of Montreal.

The purchases by the Canadian company position it to take advantage of the state’s deregulated energy market, officials said.

Boralex has purchased the Beaver Plant Operations Inc. plant in Ashland and a similar plant in Livermore Falls from Alternative Energy Inc. of Bangor. According to Boralex officials, the purchase price for both plants was $27 million (U.S.).

Boralex also has purchased the FPL Energy Avec LLC plant in Fort Fairfield, according to an announcement last month. The plant was purchased from FPL Energy LLC for $10 million (U.S.), according to Boralex.

Calls to Alternative Energy offices in Bangor were not returned Thursday and Friday. Efforts to reach an official at the Fort Fairfield plant were unsuccessful.

Boralex spokeswoman Carole Villeneuve said Friday that all plants will remain in operation and employees will remain working. The Livermore Falls and Ashland plants each have 20 workers. The Fort Fairfield facility has 28 employees, according to Boralex officials.

The Canadian company’s expansion into Maine reflects the state’s new deregulated electricity market.

“This transaction [the purchase of Alternative Energy plants] is in line with our strategic plan and will allow Boralex to benefit from operating synergies due to the proximity of all our other power stations in Maine and will allow the corporation to maximize the benefits in its … wood supply,” Boralex president Jacques Gauthier said in a prepared statement.

The executive also said that the company is well-positioned to operate in a deregulated energy market.

“It’s easier for us to develop our company,” said Villeneuve. “It’s easier to sell our electricity in the United States.”

Boralex is an independent producer of electricity and has the capacity to produce 300 megawatts. The company employs more than 200 people. It operates 16 generating stations, five in Maine including the recent purchases, which use a variety of fuel, including wood residue, natural gas and hydroelectric sources. It also owns plants in Stratton and Athens.

According to the company’s announcement, the electricity from the Ashland and Livermore Falls plants is sold in the New England markets under contracts which are valid for two to three years.

The sale of the Ashland and Livermore Falls plants is scheduled to be complete on June 8. The Fort Fairfield plant’s closing is scheduled for early July, according to company officials.