Just Energy to sell Terra Grain Fuels to undisclodes buyer

In Canada, Just Energy Group has agreed to sell Terra Grain Fuels, an ethanol producer in Belle Plaine, Minnesota, to a group of Saksatchewan businesses for an undisclosed amount. The acquisition will transfer over the $68 million debt associated with Terra Grain, and is expected to close before December 24th. Just Energy originally intended to bring the plant up to its production capacity, but cites difficult market conditions for ethanol production as the reason for the sale. The purchaser intends to keep and operate the plant, indicated Al Shulman, VP of marketing and communications for Just Energy.

More on the story.