ReVenture secures financing for waste-to-energy plant
By Christina Williams
Editor, Sustainable Business Oregon
Forsite Development reports it has secured a number of financing partners for its eco-industrial park in North Carolina.
Forsite Development says it has secured a team of development and financing partners for a proposed waste-to-energy plant, considered the anchor to the company’s ReVenture Eco-Industrial Park project west of Charlotte.
Pegasus Capital Advisors — an investor in ReVenture partner FCR, a recycling company — and Hannon Armstrong Securities have signed on to provide financing. Total cost of the project, including the 20-megawatt gasification plant and a waste processing facility, is estimated at $157 million.
Hannon Armstrong Securities is a wholly owned subsidiary of Hannon Armstrong Capital. The firm says it has provided over $1 billion for gasification, biomass, geothermal and energy-efficiency projects in the past two years.
Pegasus manages approximately $2 billion in assets through several private-equity funds and has made more than 80 investments. The company says it will provide ongoing development capital to help Forsite create other similar projects.
Craig Cogut, Pegasus managing partner and founder, says his firm sees “great potential in the ReVenture Park project as it represents a creative redevelopment concept that can revive dormant industrial sites while leveraging synergies between multiple clean energy projects.”
The “eco-industrial” park is proposed for a Superfund site across the river from Mount Holly and north of the U.S. Whitewater Center.
Read more in the Charlotte Business Journal.
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