Project Name: Verso Paper

W 6791 US Highway 2
Quinnesec, Michigan 49876

Project Details

New Market Tax Credit

2010 - Year of Investment

Affordable Units:

Commercial Spaces: 470,000

470,000 Total Sq.Ft.



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Features

    Description

    This was a New Market Tax Credit deal for a $50 million dollar renewable energy project at the pulp and paper mill that now supplies 95% of the operation's energy consumption. Verso Paper is one of the largest employers in the Quinnessec area.The project includes equipment and facility upgrades to a paper mill in Quinnesec, MI.Located in the Upper Peninsula of Michigan, the primary purpose of the project is to increase the renewable electricity generationcapabilities of the mill through the installation of a new 28 MW steam turbine generator, upgrades to the existing biomass boiler to allow for increased steam output, purchase and installation of biomass material handling equipment, and construction or installation of related improvements, infrastructure, and equipment.The mill plans to produce electricity from biomass in support of both State and Federal renewable energy goals. With this project, the mill will double its average annual production of electricity from biomass to about 50 MW. Since the infrastructure to provide the additional biomass to support the projected operational requirements does not currently exist, it is anticipated that the project will create up to 50 new jobs in the region to support the collection and transportation of the biomass needed to run the facility.