Bloomberg News

Abengoa Receives $132.4 Million Loan Guarantee for Biofuel Plant

September 29, 2011

Sept. 29 (Bloomberg) -- Abengoa SA, Spain’s largest biofuels developer, received a $132.4 million U.S. loan guarantee to build a cellulosic ethanol plant in Kansas.

The plant, in Hugoton, Kansas, will convert 300,000 tons of corn stalks and leaves into 23 million gallons (87 million liters) of ethanol a year, the U.S. Energy Department said in a statement today. The plant will be powered by a 20-megawatt biomass electric generator, fueled by leftover plant material.

Lawmakers in Washington are scrutinizing the Energy Department’s loan-guarantee program in the wake of Solyndra LLC’s Sept. 6 bankruptcy filing. The solar-panel maker, based in Fremont, California, received a $527 million loan guarantee.

--Editors: Will Wade, Tina Davis

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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