CE+P clears first hurdle to securing federal loan

Signage for the planned Sugar Valley Energy complex near Brawley. FILE PHOTO

BRAWLEY — The developer the 160-acre Sugar Valley Energy biofuel and power complex planned at Keystone Industrial Complex says it has cleared the first hurdle to securing a $725 million federal loan to move forward.

California Ethanol + Power Chief Financial Officer Ron Blake said Thursday the company has advanced through Part I of the U.S. Department of Energy’s Loan Programs Office Title XVII Innovative Energy Loan Guarantee Program and Renewable Energy Projects and Efficient Energy Projects Solicitation, a rigorous first stage of consideration to qualify projects eligible for the program. As a result, he said, CE+P has been invited to submit a Part II Application for a Federal Loan Guarantee.

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