Verso to buy Bucksport power plant

Although not final, Verso Paper Corp. has plans to buy the full assets of a power plant that is co-located with its paper mill in Bucksport, Maine.
The deal includes Verso buying 100 percent of Bucksport Energy LLC, which owns and operates a gas-fired power plant that is alongside Verso’s Bucksport paper mill. Verso’s subsidiary, Verso Bucksport Power LLC, will be acquiring the plant. Verso is already a part owner of the plant, owning 28 percent since Bucksport Energy became operational in 2000. Hydro-Quebec and GDF Suez, a French company, are the other owners.

The power plant is reported to provide the mill with 28 percent of its power. The other 78 percent is sold back to the power grid, which is operated by ISO-New England. The mill also uses the plant’s steam to help in the paper making process.

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