Laidlaw Energy Group to acquire biomass power plant

Renewable energy company Laidlaw Energy Group is to gain a biomass-fired power station after it entered into a Letter of Intent on the 7th Feb 2011.

Laidlaw will buy the 14MW biomass plant from Renegy Holdings and other affiliated shareholders.

The president and CEO of Laidlaw Michael Baroszek notes: 'This transaction is part of a larger strategy of growth and diversification that we have been working on for some time. We shortly expect to announce another major acquisition that will further expand our business.'

Laidlaw expends for the transaction to close within the next 45-60 days.

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