100 Mgy Louisiana biodiesel project gets go-forward on GO Zone bonds

In Louisiana, the New Orleans Times-Picayune is reporting that the state bond commission has re-approved $100 million in biodiesel plant financing from the Gulf Opportunity Zone (GO Zone) program developed to assist in recovery from the 2005 hurricane season. Renewable Energy Group said it would use the funds in developing its 60 Mgy biodiesel project in partnership with Bunge and International-Matex Tank terminals, and the facility will be located on the IMTT St Rose terminal property.

The project was halted last year after the bond market collapsed in the wake of the global economic crisis.

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