BlueFire Renewables, a California-based company, has entered into a memorandum of understanding with China Huadian Engineering Co. to finance its integrated Power Plant and Biorefinery in Fulton and up to five additional plants in the United States.
According to Biofuels Digest, under the MOU, Huadian will invest equity by purchasing an interest in the BlueFire Fulton Renewable Energy, LLC and, optionally, debt for the Fulton project to complete financing and construction for this cellulosic ethanol facility. Additionally, upon the initial success of the Fulton Project, the agreement intends for Huadian to invest equity and/or provide debt for the development of five additional plants in the United States. The MOU also contemplates the formation of a development joint venture to develop similar projects in China.
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