LUFKIN, Texas (AP) — NRG Energy Services has been granted the right to operate the Aspen Power biomass power plant in East Texas for at least a year while the unit is marketed to potential buyers.
The Lufkin News (http://bit.ly/1mlRXJp ) reports Monday's court ruling means the facility in Lufkin could reopen within a month.
The Aspen Power plant was marketed as the state's first wood-waste biomass electricity generation facility. The 57-megawatt power plant opened in 2011 but has been idle since August 2012 amid challenging market conditions.
Michael Fisco represents U.S. Bank, the trustee for the $53 million in bonds owed by Aspen Power. Fisco told a judge that granting management rights to Houston-based NRG and restarting the plant would increase its value and take advantage of an improved electricity market.
Information from: The Lufkin DailyNews, http://www.lufkindailynews.com