NTR Sells One-Third of Stake in U.S. Ethanol Maker Green Plains

NTR PLC, an Irish developer of power and waste projects, will sell part of its one-third stake in ethanol producer Green Plains Renewable Energy Inc. (GPRE)

Green Plains will pay $28 million for 3.5 million shares of its common stock, or $8 each, the Omaha, Nebraska-based fuel company said today in a statement. It will purchase half of the shares within a week and the remainder within 90 days. NTR currently holds 11.2 million shares of Green Plains, or about 31 percent of the total outstanding.

source: bloomberg