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Ethanol plant makes headway
SHARON - Global Renewable LLC received the final air and construction permits from the State of Wisconsin for its ethanol plant in Sharon.
The company also received preliminary approvals for up to $76.6 million in financing for the project. The company anticipates breaking ground at the plant site once it secures the remaining financing for the ethanol plant.
Global Renewable LLC will host a public informational meeting in Sharon 5 - 8 p.m. July 18 at the Sharon Village Hall.
The Sharon Board of Trustees approved a resolution authorizing the sale of $60 million in tax-exempt industrial revenue bonds for the ethanol project on April 10. Sharon's Planning Commission also approved the granting of more than $9 million in tax-increment financing for street, rail, electric, gas and other infrastructure improvements required for the plant's construction.
Final approval of the tax-increment financing could be received by mid-August. Global Renewable also has received a letter of commitment from Alliant Energy for a $7.6-million low-interest loan through its Shared Savings program, which rewards energy efficient design and operation of commercial facilities like the Sharon Ethanol plant.
The company is working to finalize its Shared Savings agreement with Alliant and anticipates that it will be completed in the near future.
“We continue to work hard to ensure that the Sharon Ethanol project will benefit both the community and our investors,” said former Wisconsin Gov. Tommy G. Thompson, chairman of Global Renewable. “The Sharon Ethanol plant is an exciting project that demonstrates Wisconsin's continued leadership in renewable energy.”
The company also received preliminary approvals for up to $76.6 million in financing for the project. The company anticipates breaking ground at the plant site once it secures the remaining financing for the ethanol plant.
Global Renewable LLC will host a public informational meeting in Sharon 5 - 8 p.m. July 18 at the Sharon Village Hall.
The Sharon Board of Trustees approved a resolution authorizing the sale of $60 million in tax-exempt industrial revenue bonds for the ethanol project on April 10. Sharon's Planning Commission also approved the granting of more than $9 million in tax-increment financing for street, rail, electric, gas and other infrastructure improvements required for the plant's construction.
Final approval of the tax-increment financing could be received by mid-August. Global Renewable also has received a letter of commitment from Alliant Energy for a $7.6-million low-interest loan through its Shared Savings program, which rewards energy efficient design and operation of commercial facilities like the Sharon Ethanol plant.
The company is working to finalize its Shared Savings agreement with Alliant and anticipates that it will be completed in the near future.
“We continue to work hard to ensure that the Sharon Ethanol project will benefit both the community and our investors,” said former Wisconsin Gov. Tommy G. Thompson, chairman of Global Renewable. “The Sharon Ethanol plant is an exciting project that demonstrates Wisconsin's continued leadership in renewable energy.”
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