TYSONS CORNER, VA March 26, 2015 — Executive Mosaic — Leidos Holdings has agreed to sell the Plainfield Renewable Energy Plant to Greenleaf Power the Hartford Courant reported Wednesday.
Brian Dowling’s report quotes Leidos Chief Financial Officer Mark Sopp as saying Greenleaf Power would pay $30 million in cash and pledge $80 million in a secured note at the acquisition’s close, slated to occur later this year.
“While we are disappointed with the further impairment to the value embedded in the sales price, we do believe for many reasons that accepting this offer was the best course of action for the company and our shareholders,” Sopp told investors in a conference call in midweek.
GovCon Wire reported Wednesday on the purchase agreement for the wood-fed plant designed to provide enough “green” baseload power for 280,000 homes.
Greenleaf Power officials expect Plainfield to boost their company’s gross renewable energy capacity to 180 megawatts.
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