星期一, 7 7 月, 2025
Home PV News INEOS biomass plant gets $75 million U.S. loan guarantee

INEOS biomass plant gets $75 million U.S. loan guarantee

A Florida plant that would produce biofuels from yard trash and citrus rinds has received a $75 million loan guarantee from the U.S. government.


INEOS New Plant Energy LLC plans to produce 8 million gallons a year of advanced biofuel at the plant in Vero Beach on Florida's Atlantic coast. It was among four projects tentatively identified early this year for construction support.


In a statement, the Agriculture Department on Thursday said it issued a $75 million guarantee to INEOS from a fund that aids construction of commercial-scale biomass plants.


Although Congress set high goals for second-generation biofuels, slow economic growth has delayed development of the industry and kept production at a trickle.


This year the Environmental Protection Agency lowered the U.S. mandate for cellulosic ethanol for the second year running.


Completion of the INEOS plant is expected in summer 2012. It would consume 300 dry tons per day of citrus fruit, vegetable and yard waste in a gas fermentation process to produce ethanol and enough electricity to run the plant and 1,400 homes.


The other companies offered loan guarantees in January were Coskata Inc, Green Diamond Diesel LLC and Enerkem Corp.


 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Al Kharsaah: A Pioneering Solar Power Plant in Qatar

Located 80 km west of Qatar's capital, Doha, the Al Kharsaah Solar PV Independent Power Producer (IPP) project is the country's first large-scale solar...

OMV Petrom Buys 50 Pct Stake in Gabare Solar Project

OMV Petrom S.A. has acquired a 50 percent stake in the Gabare solar project from Enery Element, a large-scale project in Byala Slatina, near...

RWE 7.5MW/11MWh battery energy storage start commercial operation in Netherlands

Power generation firm RWE has put a BESS in the Netherlands into commercial operation, its first that is capable of providing inertia to the...

Gurīn Energy selects Saft’s battery energy storage system for first Japanese project

Saft, a subsidiary of TotalEnergies, has been selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS)...