60 Mgy biodiesel plant announced in Kentucky

In Kentucky, Southland Renewable Fuel announced a 60 Mgy biodiesel plant in Paducah. Construction over three years is projected to cost $100 million.

Last month, Governor Fletcher ssigned energy incentive legislation that will provide up to half the capital investment in a biofuels project.

To qualify, a biofuel facility must involve a capital investment of at least $25 million. The incentives can cover labor costs on a new project; sales and use taxes; income tax and corporate taxes. The incentives are funded by a state bond issue. The state also adds tax credits of $1 per gallon for biodiesel and ethanol.

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