Saturday, November 6, 2010

Alternative Energy Policy Vacuum Takes Its Toll

The lack of a comprehensive national policy for alternative energy sources and alternative fuels continues to take its toll on the industry, and with Republican control of the House of Representatives, we can only look for more such disasters. On Wednesday, November 10, a brand new, 90% complete facility designed to annually produce 20 million gallons of fuel ethanol and 3.2 megawatts of electric power will go under the auctioneer’s gavel in Heyburn, Idaho. Owner of the new plant, Renova Energy of Idaho, LLC, filed chapter 11 bankruptcy last year, after halting construction, with the factory more than 90% complete, in 2008. Construction started in 2007.

The facility will be sold as is and in place, or if that does not succeed, equipment and structures will be auctioned off piece by piece. Renova’s plant would have been only the second ethanol facility in the State of Idaho. With very little prospect of Congressional action on national energy policy legislation any time soon, given the outcome of this week’s elections, it seems unlikely a buyer willing to complete construction and put the Renova factory into operation will come forward.
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