Maine OKs $1.2 million subsidy for biomass plant
AUGUSTA, Maine (AP) — Maine taxpayers are giving an embattled biomass company a $1.2 million subsidy thanks to a move by the state’s utility regulators.
Maine Public reports that the Public Utilities Commission this week approved the subsidy for Stored Solar LLC.
The company could have received up to a $4.6 million but regulators say it failed to deliver on goals for waste wood purchases and capital spending.
The company operates two plants in West Enfield and Jonesboro. The commission last month found Stored Solar failed to meet two of three contract obligations for purchasing waste wood and spending on capital expenditures.
Information from: WMEA-FM, http://www.mpbn.net/index.html