Renegy starts production, reports financial loss
Renegy Holdings Inc. began testing at its new 24-megawatt biomass power plant in Snowflake, Ariz., in late March. The news accompanied fourth-quarter financial results showing an $11 million loss, which Chairman and Chief Executive Officer Bob Worsley attributed partly to one-time items and merger-related costs. In February, the company appointed Hugh Smith to the position of chief operating officer. Prior to joining Renegy, Smith was employed with EnergyCo LLC, PNM Resources and Tampa Electric Co.