CONCORD, N.H.—The company that helps heat many of the state buildings in the New Hampshire capital is without financing for a $70 million wood-fired power plant it had hoped to finish this summer.
And officials at Concord Steam say a Massachusetts utility that had committed to buying more than a quarter of the electricity from the plant has backed out.
Concord Steam President Peter Bloomfield tells the Concord Monitor lenders aren't interested if his company doesn't have long-term contracts to sell all of the plant's electric output.
Concord Steam wants to replace its outdated facility on grounds of the state with a more efficient plant that will be able to produce electricity year-round and allow for more competitive steam rates.
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Information from: Concord Monitor, http://www.cmonitor.com
