Tyr Energy sells 40% Florida biomass plant stake to Starwood

Starwood Energy Group Global has acquired 40% ownership of a 100MW biomass power plant under construction in Gainesville, Florida, making it the largest stakeholder among four in the project.

Financial terms were not released by seller Tyr Energy , an independent power producer and energy asset management firm jointly owned by Japanese trading giant Itochu Corp. and its US subsidiary Itochu International. The deal was finalized on 30 December, according to Starwood , a private equity investment firm.

The other project owners, each with about a 20% stake, are Energy Management Inc. (EMI), BayCorp Holdings and Ron Fagen, owner of a Minnesota construction company that is building the $500m plant. EMI is best known as developer of Log in to read complete article.

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