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.