London based Camco Clean Energy has recently acquired a biogas facility from Cargill for $2.9 million. The acquisition brings the company's operating dairy biogas power facilities in the US to 6.6 MW. The 2.1 megawatt renewable energy facility is located in Hansen, Idaho, just under 30 miles from Camco's existing 4 MW biogas plant in Jerome.
Camco's biogas facilities convert liquid and solid dairy cow waste material into electricity, which is then sold to Idaho Power.
In an announcement posted to the London Stock Exchange, Camco said acquisition of the facility will generate immediate cash flow for the company. The company also noted the proximity of the new acquisition to the existing Jerome plant is expected to allow for operational benefits to be secured across both facilities.
"The completion of this transaction alongside our recent issuance of the first carbon credit offsets in the Californian market now provides the company with a solid basis for growth in North America," said Scott McGregor, CEO of Camco Clean Energy. "We look forward to expanding both our biogas projects and Californian carbon credit offset businesses in 2014."