US-headed private investment and energy asset management firm Fortistar LLC in partnership with Ares Capital Corporation (ARCC), has announced that it has acquired two landfill renewable natural gas (RNG) facilities, Greentree Landfill Gas and Imperial Landfill Gas, from EDF Renewables North America. Located in Western Pennsylvania, the two facilities have the capacity to produce 1.5 million decatherms (≈ 42.45 million Nm3) of RNG annually.
This acquisition, the value of which has not been disclosed, expands Fortistar’s strategy announced last year to produce, distribute, and supply RNG as a transportation fuel across the United States (US).
The growth in America’s natural gas fueling infrastructure spurred on by companies such as TruStar Energy, an affiliate of Fortistar, has paved the way for a commercially viable RNG industry.
We are closing the RNG supply loop as a uniquely vertically integrated company, extracting it from landfills and moving it into renewable natural gas vehicles and trucks. The acquisition of these two landfill gas projects is another milepost in our plan to sustainably expand and decarbonize America’s transportation fuel supply, said Mark Comora, CEO, Fortistar and Chairman of TruStar Energy.
The combined Fortistar and TruStar Energy strengths and unique vertical integration provide an unparalleled platform to deliver the most value and seamless execution to both biogas suppliers and the end fleet customers utilizing the benefits of RNG.
By converting organic waste into renewable natural gas for productive end-use, these RNG facilities will be beneficial to local communities, the transportation industry, and the environment. This transaction is consistent with the Ares Infrastructure and Power team’s strategy of targeting new, environmentally-compliant assets and creating value for our investors through our hands-on operations expertise within the power generation, transmission, and midstream sectors said Brian O’Connor, Partner of Infrastructure and Power at Ares.
