Bioscience

Phoenix-based Najafi buys Snowflake power plant

October 4, 2010

By Flinn Foundation

[Source: The Arizona Republic] – The troubled $53 million biomass power plant in Snowflake will become property of Phoenix-based investment firm Najafi Cos. following a Friday bankruptcy court hearing.

Najafi made the winning bid of $4.75 million, as nobody else made offers on the Snowflake White Mountain Power Plant, which has been operating under a receiver since April and been in bankruptcy since July.

For more information: Phoenix-based Najafi buys Snowflake power plant