Group buys more of PERC Minneapolis partners now own 70 percent of energy facility

ORRINGTON – The sale of a portion of the Penobscot Energy Recovery Co. for more than $20 million was completed last week.

Kevin Nordby and Kevin Tritz, both of Minneapolis, became involved with the trash-to-energy facility more than two years ago. The two already owned about 32 percent of the partnership through another company they own called PERC Holdings.

Last week, the partners purchased additional shares in PERC through SET PERC Inc., which is made up of a group of investors. Energy National Inc. recently left the partnership after being involved in PERC on a large scale since 1998. SET PERC Inc. purchased those shares.

“All told, SET PERC and PERC Holdings own approximately 70 percent of the project,” Nordby said on Thursday.

The Municipal Review Committee, which represents more than 160 Maine communities that deliver trash to the PERC facility, owns the remainder of the shares.

Nordby and Tritz said they have 60 years of combined experience in the solid waste industry and hope to use that knowledge to continue with the vision of the plant.

“In terms of future plans, we want to continue to develop the relationships with municipalities,” Nordby said. “There’s always a change in technology. Not only is it an energy plant, it’s really a solid waste solution for the area. We hope to make it as efficient and environmentally sound as possible.”

PERC plant manager Peter Prata said he is pleased with the transaction.

“[Nordby and Tritz] have been involved with it since about 2001, so I’m not anticipating a lot of changes,” he said.

Negotiations for the sale began about a year ago and were completed on April 15.

“The exciting thing as far as we’re concerned … we can continue on without a hiccup,” Nordby said. “It’s basically seamless.”

Nordby and Tritz are pleased with the management at the plant and do not anticipate making any changes. Despite rumors to the contrary, Nordby said there were no hang-ups in the sale and that SET PERC has adequate financial backing for the purchase.

Some Maine residents have voiced concern that Casella Waste Systems Inc., the current operator of the Pine Tree Landfill in Hampden and the West Old Town Landfill, was becoming a monopoly in the state’s trash business.

“Casella Waste Systems Inc. has no connection [to PERC] other than they’re a vendor and we take ash to their landfill facilities,” Prata explained. PERC also contracts various services with Pine Tree Waste.

Once the West Old Town Landfill is in operation, PERC ash most likely will be sent there instead of the Hampden site. Casella was a partner in the PERC facility in 2000, but since has sold its shares in the company, Prata said.