U.S. EcoGen Gets Approval for Eucalyptus-Fueled Power Deals

U.S. EcoGen LLC, a closely held developer of biomass-fueled power plants, received approval from Florida regulators for electricity sales contracts for three projects expected to enter service in 2019.

NextEra Energy Inc. (NEE)’s Florida Power & Light utility received approval to purchase for 30 years the electricity from the 60-megawatt plants in Okeechobee, Clay and Martin counties, and the deals may save its customer about $90 million a year, according to a Florida Public Service Commission filing. Terms weren’t disclosed.

The three plants are expected to produce enough energy to power 30,000 to 50,000 homes a year, the commission said today in a statement announcing the contract approvals. U.S. EcoGen, based in Jupiter, Florida, will use eucalyptus as the primary fuel.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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