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Shuttered Verso paper mill owner in Maine prepares to sell on-site power plant

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Shuttered Verso paper mill owner in Maine prepares to sell on-site power plant

October 14, 2019 - 19:15
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BUCKSPORT, ME, Oct. 14, 2019 (Bangor Daily News) -The owner of the former Verso Paper mill site is preparing to sell the site’s electrical plant to a New York-based firm for an undisclosed price.

Stonepeak Kestrel Holdings III has applied for Federal Energy Regulatory Commission approval of its plans to buy the 161-megawatt natural gas- and oil-fired generator from AIM Development USA, according to a FERC filing released Thursday.

The sale would be the latest property flip performed by site owner American Iron and Metal since the Canadian scrap-metal recycler purchased the Verso site for $58 million in 2015. A $180 million Atlantic salmon farm and a Maine Maritime Academy adult-education annex are in the works at the site. Both developments are part of a reinvention of sorts in a town that suffered the loss of 570 jobs with the paper mill’s closure in 2014.

Bangor Daily News - Bucksport paper mill owner prepares to sell on-site power plant to NY firm

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