WBIA BLOG

A New Ethanol Plant Possibly on the Way

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From an online blog, here is information on a new ethanol plant that may soon be coming to Wisconsin. That would bring the total number of plants to ten. We are on our way to helping make America stronger.

Plans for Wisconsin Ethanol Plant Still Moving

The Janesville Gazette said that Wisconsin ethanol developer Global Renewable still plans to build an ethanol plant in Sharon. ” ‘We’re still in the hunt, but we’re realistic about the challenges we face,’ said Jeff Knight, director of Global Renewable. ‘There’s a better than 50-50 chance we’re still going to build.’ The company said in late December it had secured 80 percent to 90 percent of the $237 million needed to build the facility on a 200-acre parcel on Highway 67 on the western edge of the village,” the Gazette said. “The Sharon Village Board in April 2007 approved the sale of $60 million in tax-exempt industrial revenue bonds for the project. But as financial institutions face losses as a result of the spiraling economy, they’re less willing to invest in risky industrial revenue bonds, and ethanol companies that relied on the bonds for funding are forced to find more investors. ‘It changed how much we could borrow and how much we had to raise,’ Knight said. He said the market is volatile, but Global Renewable is convinced that, with time, the markets will right themselves. ‘We’re in the worst economy for ethanol you could be in, and we still feel this is good plan,’ Knight said.”

(Janesville Gazette, July 8, 2008)

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