Proactive
Summary
Power REIT (NYSE-A:PW) Corp. said it has entered into a lease amendment to fund additional capital improvements to its existing greenhouse cultivation property, Sweet Dirt, in York County, Maine.
Under the amendment, Power REIT will fund the installation of a highly energy-efficient onsite power generation and cooling system, the company said.
Sweet Dirt will benefit from installing a Combined Heat and Power system at its property, whereby it will generate its own electricity and recover the heat produced as a by-product of the electricity production and make that a usable energy source. This allows the Sweet Dirt facility to offset running other equipment for heating the facility.
In addition to the heat that will be used for heating the greenhouse, the project includes an absorption chiller which can create cooling from the heat produced by the cogeneration system through an evaporative process.
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