Cetane Energy receives $1.1 million in Waste Isolation Pilot Plan Acceleration Funds

February 28, 2008

In New Mexico, the Carlsbad City Council approved a loan of $1.1 million in federal funds for Cetane Energy, which will enable the plant to obtain final permits and commence construction. The funds are provided by the federal Waste Isolation Pilot Plan Acceleration Funds, but are controlled by the local council, and are awarded annually by the council to offset the impact of the nuclear waste repository closing.

In New Mexico, biofuels development has been slowing fue to financial issues, despite strong backing from Governor Bill Richardson.

Construction has halted on the 15 Mgy Clovis Biodiesel project due to financing issues. The $18 million plant was 80 percent complete and scheduled to be finished this month, but management now says that completion is six to eight months away. Project owners Ares Blue Sun blamed the run-up on soy prices and Blue Sun’s inability to close a public offering for the delay.

Earlier this month, ConAgra announced that it was canceling its proposed 100 Mgy corn ethanol project in Clovis due to depressed economic conditions and rising building costs. The $200 million project also ran into resident opposition because the plant site bordered the town.

The ConAgra plant had been scheduled for an additional hearing by the state Environmental Improvement Board. The Environment Department previously approved the plant, but local residents objected to the location of the plant on the edge of town. The EIB ordered the hearing after it was disclosed that notices to residents did not properly disclose the distance from the plant to the town limits. The additional hearing will be held before February.

American Renewable Fuels plans to construct a 75 Mgy biodiesel facility in Clovis Industrial Park, which would commence operation in September 2009. Abengoa operates a 27 Mgy corn ethanol facility in the area which last year it put up for sale, saying it wanted to concentrate on its larger facilities and cellulosic ethanol developments.

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Written by Jim Lane · Filed Under Producer News