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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.