Louisiana Biorefineries Getting $161 Million Taxpayer Handout
- Ted Griggs, October 4, 2014, The Advocate
[[{"type":"media","view_mode":"media_large","fid":"274","attributes":{"alt":"","class":"media-image","style":"line-height: 20.6719989776611px; width: 242px; height: 332px; margin: 3px 10px; float: left;"}}]]Two bioenergy companies are getting a combined $161 million in federal loan guarantees or contracts that will help them develop biofuel refineries in Plaquemine and Alexandria.
Cool Planet Energy Systems is getting a $91 million federal loan guarantee to produce renewable biofuel in central Louisiana from trees, forestry waste and natural gas at a previously announced plant at the Port of Alexandria.
Emerald Biofuels will build a previously announced animal fats-to-diesel refinery in Plaquemine through a $70 million contract from the U.S. departments of the Navy, Energy and Agriculture.
U.S. Agriculture Department Secretary Roger Vilsack said the Energy Department will help Emerald Biofuels with construction, USDA will help buy down the cost of feedstock, and the Defense Department will buy the plant’s production for five years.
Vilsack was in Baton Rouge on Friday and discussed the Emerald Biofuels contract after holding a news conference to announce the Cool Planet loan guarantee.
The Emerald Biofuels facility will be able to produce 82 million gallons of fuel each year.