Boralex power plants qualify for biomass subsidies

Boralex Inc

04-02-10

Canadian power producer Boralex Inc said its power stations that run on wood residue will receive biomass subsidies under a U.S. federal program.

The Biomass Crop Assistance Program, set up under the Obama administration's green policies, offers subsidies to wood residue suppliers for converting biomass into, heat, power, bio-based products or biofuels.

Boralex also said it has signed agreements with its suppliers and expects to cut its wood residue supply costs by about $12 million annually for the next two years.

Source: www.reuters.com/article/idUSSGE6110J220100202

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Category: Electricity (Green), Biomass, other than pellets, USA