The new owner, Multitrade Telogia, paid $5.7m in cash and assumed $1.7m in debt, according to Greenhunter.

Gary C. Evans, chief executive of Greenhunter, said the sale will enable his company to improve its liquidity position and allow capital to be used in a more efficient manner.

GreenHunter, based in Grapevine, Texas, oustide Dallas, owns a diversified portfolio of alternative energy assets including the largest US biodiesel refinery in Houston and wind projects in California, Montana and New Mexico.