(Published Tuesday, June 26, 2007 11:41:18 AM CST)
A d v e r t i s e m e n t
By Mike Heine Gazette staff
SHARON-Global Renewable has received final air quality and construction permits from state regulators for an ethanol plant proposed for the village.
The company expects to break ground this fall after it receives the remainder of the financing needed to construct the $195 million plant. It has preliminary approvals for $76.7 million in financing already.
Global Renewable Director Jeffery P. Knight said remaining hurdles include securing additional financing and local permits, such as building permits, deep-well permits and stormwater retention permits.
The Wisconsin Department of Natural Resources air quality permit was the most important for Global Renewable to start getting loans, Knight said.
The Sharon Board of Trustees in April approved the sale of $60 million in tax-exempt industrial revenue bonds for the project, and the village's planning commission approved more than $9 million in tax-increment financing for street, rail, gas, electric and other infrastructure improvements for the plant.
Global Renewable is also finalizing a $7.6 million low-interest loan through Alliant Energy's Shared Savings program, which rewards energy-efficient design and operation of commercial facilities.
The plant will do business under the name Sharon Ethanol.
When completed, the plant will produce more than 105 million gallons of ethanol fuel annually from more than 38 million bushels corn grown within a 50-mile radius of the facility. About 55 new jobs will be created when the plant is finished, possibly by early 2009.
"We're still hoping to get a very aggressive construction schedule together to get production by January 2009," Knight said.
The plant is to be built on the north side of Highway 67 on the western edge of the village.
If you go
Global Renewable will hold a public information meeting from 5 to 8 p.m., Wednesday, July 18, at Sharon Village Hall, 125 Plain St.
