Meadwestvaco Says Govt. Owes $47M For Biomass Generator
Law360, Washington (April 9, 2015, 9:56 PM EDT) -- MeadWestvaco Virginia Corp. slapped the federal government with a $47 million suit in the Court of Federal Claims on Thursday, alleging the U.S. Department of Treasury underpaid the company for the construction of a biomass energy generator.
Under Section 1603 of the American Recovery and Reinvestment Act, the government was obligated to pay 30 percent of the qualified cost to MeadWestvaco of building an open-loop biomass energy facility at its Covington, Virginia, paper mill in 2013, or about $85.9 million, the company says.
But the government paid only about $38.9 million. Most of the power produced at the facility was sold...
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