RUMFORD – Aquila Inc., a Missouri-based power company, has sold its interests in 12 power plants, including a co-generation plant at MeadWestvaco Corp., to a Boston company.

Steve Hudson, spokesman for MeadWestvaco, said the 85-megawatt co-generation boiler at the mill uses coal, biomass and tire-derived products to produce steam that is then sold on the New England Power Grid as electricity.

He wasn’t sure how much of an interest Aquila owned, but he believes the Missouri company owns a minority interest in the MeadWestvaco plant.

Aquila sold its interest in the local plant, as well as the other 11 plants, to Teton Power Funding, an affiliate of ArcLight Capital Partners for $300.9 million. The price for the MeadWestvaco power plant is not known.

Hudson said the mill’s power plants are generally owned by a partnership of MeadWestvaco and others, with the mill holding the majority interest. He said the mill’s partners usually look at their ownership as an investment.

He said such changes in minority ownership don’t affect the operating partnership.

“It’s a big deal for Aquila, but here, it’s not that big a deal,” he said Thursday night.

He said the business partnership means that the land on which the co-generation plant is located is owned by MeadWestvaco, the boilers are owned by the mill and a partner, then the power facility is operated by the mill.

According to an Associated Press story, Aquila provides electricity and natural gas to customers in Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, Michigan, Canada, and the United Kingdom. The company reported losses in the past six quarters and is selling assets to pay its debts.

A 14-megawatt hydro dam in Topsham was also sold by Aquila to Teton. Other plants sold are located in California, Florida, Georgia, New York, Washington and Jamaica.

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