Valero ventures into biodiesel
The US' Valero Energy, which first looked into the ethanol market, is now forming a biodiesel joint venture.
The company is planning to build a 135 mgy renewable diesel plant with food processing by-products recycling company Darling International.
The proposed plant would be situated next to Valero’s existing St Charles refinery near Norco, Louisiana.
The companies intend to seek a loan guarantee for the project from the US Department of Energy (DoE) under the Energy Policy Act of 2005, which provides $8.5 billion (€5.8 billion) of debt financing guarantees for projects that make use of innovative energy efficiency, renewable energy and advanced transmission and distribution technologies.
In March Valero won an auction for seven ethanol facilities, bidding about $477 million for the facilities and a development site of bankrupt ethanol maker VeraSun Energy.
The company is planning to build a 135 mgy renewable diesel plant with food processing by-products recycling company Darling International.
The proposed plant would be situated next to Valero’s existing St Charles refinery near Norco, Louisiana.
The companies intend to seek a loan guarantee for the project from the US Department of Energy (DoE) under the Energy Policy Act of 2005, which provides $8.5 billion (€5.8 billion) of debt financing guarantees for projects that make use of innovative energy efficiency, renewable energy and advanced transmission and distribution technologies.
In March Valero won an auction for seven ethanol facilities, bidding about $477 million for the facilities and a development site of bankrupt ethanol maker VeraSun Energy.
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