Date: December 30, 2008
Source: News Room
Albany, NY-based ReEnergy Holdings LLC has revived its offer to buy the Southeastern Public Service Authority (SPSA) outright, for at least $205 million. ReEnergy made a similar, but less detailed, bid for SPSA in August, but its proposal was rejected by agency leaders. The new offer would provide enough to retire most of SPSA's $240 million in debt and could result in lower disposal fees within the next few years. ReEnergy wants to buy all of SPSA's assets, including the regional landfill in Suffolk and nine transfer stations, and would invest in improvements to the waste-to-energy plant in Portsmouth. They propose to sign 20-year service contracts with each of the eight member communities and increase recycling incentives.
For more information about SPSA, visit: www.spsa.org.
For more information about ReEnergy Holdings LLC and to learn more about their offer, visit: www.reenergyholdings.com.
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