WEC puts Trillium CNG up for sale
WEC Energy Group is putting up for sale the Trillium CNG portfolio of natural gas fueling stations it had acquired only this summer.
Trillium operates 66 public CNG stations around the United States, in addition to 45 private stations which are all used by the one trucker company, reported the Journal Sentinel.
The CNG distributor has expanded in the last years, installing new stations from coast to coast. Its assets are estimated to be worth about $140 million.
According to company spokeswoman Lisa Prunty, around 40 companies involved in the CNG business have expressed their interest in the purchase of Trillium.
"Trillium continues to see robust growth in a rapidly developing industry and WEC sees significant value in Trillium. It's a highly respected brand. However it's just inconsistent with a utility risk profile,” said Prunty.
WEC acquired Trillium this summer when it purchased Integrys Energy Group for $9.1 billion. The acquired energy group planned to develop Trillium with a $150 million investment for the construction of 101 fueling stations over 3 years.
