Liberty Green Renewables Indiana LLC has plans to build a 28 MW biomass-to-electricity plant northwest of Milltown, Indiana. The plant will cost between $80 million and $90 million, employing approximately 25 people once it is online, said company partner Terry Naulty.
With the global credit crunch hindering many investments, Liberty does not seem to have any problems. The company said project funding is expected to come through equity investments, bank financing, local tax abatement, and federal New Markets Tax Credits. In addition, Liberty will attempt to qualify for federal Renewable Energy Credits and production tax credits.
The plant will produce electricity from wood biomass. Naulty said Liberty will purchase the biomass from Borden-based Koetter & Smith, which buys sawdust and wood shavings from Southern Indiana sawmills, furniture and cabinetmakers and other sources. The company also will collect biomass from land clearing and logging, tree trimming and storm damage, Naulty said.
Construction is expected to begin in 18 to 20 months and last about 15 months. The facility is expected to be online by late 2011, Naulty said.