Closed Minn. ethanol plant sold
FAIRMONT, Minn. (AP) — Green Plains Renewable Energy says it has bought the BioFuel Energy facility in Fairmont.
The ethanol plant has been closed for nearly 14 months.
Omaha, Neb.- based-Green Plains also purchased the BioFuel plant in Wood River, Neb.
The company says it paid about $101 million for the two facilities.
Minnesota Public Radio News reports both the Minnesota and Nebraska plants can produce about 110 million gallons of ethanol a year. Green Plains plans to reopen the Fairmont plant by the end of this year.
Green Plains is the nation's fourth largest ethanol producer, selling about 1 billion gallons of the corn-based fuel a year.
Fairmont will be the company's second Minnesota plant. Green Plains also owns an ethanol operation in Fergus Falls.
Copyright 2013 The Associated Press.