BANGOR DAILY NEWS • June 22, 2020
The $90 million Hampden plant closed its doors at the end of May after running out of money to pay its bills and to fund a series of other performance upgrades. It lost money because of a delay in receiving state permits and the coronavirus pandemic caused a deal with a Canadian paper company to fall through. The bondholders with a majority financial stake in the plant also decided against extending a critical $14.7 million loan. Backers say the closure is probably temporary, but they are still not certain whether it will reopen. Now, officials are scrambling to line up new funding, management and staff for the plant so it can reopen. They are trying to arrange a more environmentally friendly interim arrangement for the 115 member communities that, while the plant is closed, are contractually required to send their waste to a backup landfill.