Sherman Lumber Company

SHERMAN STATION
Maine

Due to his government experience helping industries convert to wood fuel in New England, shortly after joining Palmer Capital, Gordon Deane was contacted by the Sherman Lumber Company seeking assistance for its plans to utilize the estimated 500,000 tons of wood bark which it had accumulated over the years.

Maine Public Service (MPS) was willing to purchase only peak power from the contemplated 10 MW power plant. Palmer assisted Sherman Lumber in its appeal to the Maine Public Utility Commission and its subsequent negotiations with MPS for a long-term base load contract.

The result was a base load 20 MW project which was financed via a partnership with Wheelabrator which Palmer negotiated on behalf of Sherman Lumber.

LOCATION: Sherman Station, ME
DATE: 1986
TYPE: Wood-fired Power Plant
PALMER’S ROLE: Financing Finder
AMOUNT: $35,000,000

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Gordon L. Deane, the President of Palmer, has been leading Palmer’s energy efforts since 1981. During this time, Gordon has been involved in all aspects of developing, financing, and managing non-conventional energy projects for Palmer involving over $2.6 billion of financing and ranging from Maine to Hawaii. He has also provided consulting services to the US Department of Commerce on energy project development and financing in several foreign countries.

Prior to joining Palmer, Gordon served as a consultant to the US EPA and several state environmental organizations. He was also the manager of a 6-state alternative energy program sponsored by the New England Regional Commission and the US Department of Energy. Gordon is the current Chair of the Board of NTBG and also sits on the boards of other non-profit and for-profit entities.

Gordon has a BA with Honors in Physics from Oberlin College and an MS in Environmental Science from Harvard University.