Green Plains purchases two Nebraska ethanol plants

OMAHA, NEB: Green Plains Renewable Energy (NASDAQ: GPRE) has completed the acquisition of two ethanol plants in Nebraska. The plants, which are near Central City and Ord, add 150 million gallons of ethanol production capacity per year, making Green Plains the fourth largest ethanol producer in the United States with 480 million gallons of annual expected capacity.

AgStar Financial Services, PCA and other banks provided US$123.5 million in financing for the plant acquisitions, and the lenders have supplied US$16 million in seasonal revolving loans for the working capital needs of the plants.

"We are delighted to close this transaction and look forward to bringing these plants online as soon as possible," said Todd Becker, Green Plains' president and CEO. "We welcome over 80 new employees to the Green Plains team."

source: energycurrent