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.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.