Kinder Morgan Acquires North American Natural Resources
Kinder Morgan, Inc. announced it has closed on the acquisition of North American Natural Resources, Inc. and its sister companies, North American Biofuels, LLC and North American-Central, LLC. The $135 million acquisition in combined purchase price and related transaction costs includes seven landfill gas-to-power facilities in Michigan and Kentucky.
Shortly following close, Kinder Morgan will make a final investment decision (FID) on the conversion of up to four of the seven gas-to-power facilities to renewable natural gas facilities with a capital spend of approximately $175 million. Pending FID, these facilities are expected to be in service by early 2024. Once complete, the facilities are expected to generate approximately 2 billion cubic feet (Bcf) per year of RNG.