Business: Executives

$3.2 Million Dollar Combined Heat and Power (CHP) Equipment Package is scheduled for Auction on Thursday, February 27

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The auction is a great opportunity for a buyer looking to increase their energy efficiency and get like new equipment at a fraction of it’s original cost


MASON CITY, Iowa (PRWEB)

Maas Companies of Rochester, MN will auction the surplus $3.2 Million Dollar 8 MW Cogen (Steam) Turbine Power Plant Equipment via Sealed Bid Auction next month. Maas Companies specializes in the liquidation of specialized and renewable fuel/power assets for private companies, courts, banks and lenders nationwide. The deadline to submit a bid is Thursday, February 27 at 4:00pm.

The $3.2 Million Dollar Heat and Power Generation Plant is located within the Golden Grain Energy facility in Mason City, Iowa. Due to termination of a lease and subsequent property abandonment, the equipment is now surplus and will be sold by GGE. The equipment will be sold as a package to be relocated. Construction began in 2016 and was completed in 2018. The independent combined heat and power facility used natural gas to produce electricity via a 4.25 MW remanufactured Solar/CAT Turbine and 24,000 PPH of 150 PSI process steam via a heat recovery steam generator (HRSG) and rebuilt 800hp boiler. The renewable energy company sold steam for ethanol production and sold surplus power was to be sold back to the grid via an interconnect with a local utility company.

Tyler Maas, director of sales and marketing for Maas Companies, states, “I am excited to market this combined heat and power (CHP) equipment package via auction. 2020 marks our 100th year in the auction business and over the last 40 years we have been involved in the marketing of more and more renewable fuel, biomass and cogeneration projects like this. The auction is a great opportunity for a buyer looking to increase their energy efficiency and get like new equipment at a fraction of it’s original cost.”

Bidders interested in the plant should contact the auction company to receive access to all the due diligence documents prior to submitting a sealed bid. If bidders don’t want to wait for the auction, they are encouraged to submit their highest best offers now.

Potential buyers are required to schedule an inspection of the equipment during the below noted times or other times by appointment:

Wednesday, February 12 10 AM – 2 PM

Wednesday, February 26 10 AM – 2 PM

Details of the sale are available at the auction website, http://www.powerplantauction.com or by contacting the auction company directly at 507-285-1444.

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