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Replies to post #21828 on Cirque Energy Inc. (fka CRQE)
Cirque Energy, LLC fully developed and sold the project in 2011 to VC Energy for the construction and operation of the MPS. The project received all necessary permits for construction in 2012. The project was jointly cancelled by VC Energy and Dow Corning in 2012 due to market uncertainties
The project was jointly cancelled by VC Energy and Dow Corning
12/04/14 3:55 PM
VC Energy progressing with Dow Corning energy, steam plant
Friday, June 15, 2012, 1:41 pm
VC Energy LLC has taken over the bio-mass energy and steam plant that is expected to supply Dow Corning Corp. with renewable energy for decades to come.
The company is seeking city approval of a site plan for the plant, which would be built at 602 S. Waldo Ave. next to Dow Corning’s Midland Plant.
The previous developer, Cirque Energy, had planned to begin work in the summer of 2011, but the project was delayed.
David Peaper, vice president of construction for Nevada-based VC Energy LLC, said his company acquired the project last year. The company renegotiated a 25-year purchase agreement with Dow Corning and received air quality and wetlands permits for the facility.
Public comment closes on Cirque Energy bio-mass plant
Updated: Thu Dec 8, 2011, 12:31 pm.
A public hearing on a state air permit for Cirque Energy's proposed bio-mass energy and steam plant will not take place tonight because no person or group requested the hearing take place, a company official said.
Roger Silverthorn, co-founder and chief financial officer for Cirque Energy, said in November that the hearing would take place if someone requested it.
No one did, he said on Wednesday.
The written public comment period closed on Tuesday and the Michigan Department of Environmental Quality will now review any comments submitted and consider approval of the permit.
The Midland Power Station would supply Dow Corning Corp.'s Midland site with all of the steam and most of the energy it needs.
The plant would use forest waste, agricultural waste and energy crops to create steam and energy. Most fuel would be sourced from within 50 to 60 miles of the plant, which would be located on Waldo Road just east of Dow Corning's Midland site.
With the power plant, Dow Corning would gain more predictable energy costs and be able to reduce the site's greenhouse gas emissions an estimated 94 percent.
If the permit is granted, Cirque Energy's financial deal could quickly close with VC Energy LLC providing equity and BNP Paribas servicing debt for the project, Silverthorn has said.
Cirque Energy has estimated the bio-mass plant would create 25 direct jobs and about 200 more permanent jobs in fuel-related businesses. About 100 construction workers would help build the facility.
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