[NEWS] Abengoa Plants Go To Green Plains: Ethanol’s Jolly Giant Gets Bigger
– by Jim Lane, August 23, 2016, Biofuels Digest
In Nebraska, word has arrived from Green Plains that it will purchase the Madison, Ill., Mount Vernon, Ind. and York, Neb. ethanol facilities from Abengoa Bioenergy with combined annual production capacity of 236 million gallons per year, for approximately $237 million in cash, plus certain working capital adjustments.
The company said it was the successful bidder on three ethanol plants for sale conducted under the provisions of the U.S. Bankruptcy Code.
Upon completion of the acquisitions, Green Plains will own and operate 17 dry mill ethanol facilities with combined production capacity of nearly 1.5 billion gallons per year. With ADM putting US ethanol assets on the sale block, the acquisition leaves Green Plains and POET alone at the top in terms of US production capacity.