BERLIN, NH — A new woody biomass power plant, developed to the tune of $275 million, is scheduled to begin generating electricity by the middle of next month.

The Burgess BioPower plant is designed to produce 75 megawatts of electricity per year, equivalent to the amount of power used by about 75,000 homes. Cate Street Capital, developer of the plant, said it would create 40 jobs and inject $25 million a year in the local economy.

The Burgess BioPower plant, started two years ago, was developed on the site of a former Fraser Papers pulp mill which closed in 2006.

Cate Street Capital said the facility will burn approximately 750,000 tons of low-grade wood per year and help support several hundred jobs for foresters, loggers and chippers.