CALIFORNIA BUSINESS MINUTE
Imperial Valley
11-10-10
Hi, I am Tim Johnson and welcome to the California Business Minute.
The first major sugarcane ethanol refinery in the continental United States will
be built in the Imperial Valley of California, apparently one of the best locations
for growing sugarcane in the world.
The project will cost $575 million and produce 66 million gallons of ethanol, enough
electricity to meet the needs of 35,000 homes, and enough biomethane to heat 10,000
homes per year. Sweet sorghum, which has similar characteristics to sugarcane, will
also be used.
Clean Energy Capital LLC, the largest U.S. private equity firm specializing solely
in investments in ethanol, has been engaged to fully develop the project.
Scott Brittenham, CEO of Clean Energy Capital, stated, “There will be strong demand
for ethanol from the refinery because the ethanol produced will meet stringent low
carbon fuel mandates imposed anywhere in the U.S.”
I am Tim Johnson and this has been the California Business Minute.
|
