East Coast Energy Solutions down to five Pennsylvania finalists for 40 Mgy ethanol facility

In Pennsylvania, East Coast Energy Solutions has reduced its list of candidate locations for its planned 40 Mgy ethanol plant to five finalists. Three of the finalist locations are in Warren County, in Phillipsburg, Greenwich Township and White Township. Rail service is said to be a key factor in final selection of what is expected to be a 30-acre site.

Pennsylvania recently passed a $650 million energy package. The bill provides $380 million in incentives for research and manufacturing in biofuels and other renewable energies such as wind and solar. $170 million was earmarked for consumer rebates on purchase of energy-saving items such as energy efficient appliances, hybrid cars or solar panels. $100 million would go to emergency aid for poor families for assistance with rising utility bills.

In other Pennsolvania biofuels news, BioEnergy International recently closed financing for its 100 Mgy corn ethanol plant and pilot cellulosic plant, in Clearfield, Pennsylvania. The $201 million in debt financing was provided by TD Banknorth and WestLB, with tax exempt bond financing by Sterns Brothers. Equity funding was provided by BioEnergy and its investors Plainfield Asset Management, Camulos Capital, Itera Ethanol, LLC, Context Capital Management and NGP Capital Resources.

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