StockMarketWire.com - Energy efficiency sector investor SEEIT said it had acquired the remaining 35% stake that it did not already own in Primary Energy, from a consortium led by Fortistar for approximately $92 million.

Primary Energy's 298MW portfolio consisted of five individual operating projects: three recycled energy projects, one natural gas combined heat and power project and a 50% interest in an industrial process efficiency project.

'Four of the five projects relate to steel mills that are owned by Cleveland-Cliffs Inc., the largest flat-rolled steel producer as well as the largest iron ore pellet producer in North America,' the company said.

'The remaining project services Midwest Steel, a subsidiary of United States Steel Corporation.'

'The strong environmental benefits of the assets qualify the projects for renewable energy certificates which are equivalent to those generated by 536 MW of solar or 374 MW of wind projects,' it added.


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