Spanish-Owned Firm Receives $132 Million Loan Guarantee From Energy Department

Published September 30, 2011

Just one day before the controversial federal loan program that backed bankrupt solar company Solyndra was to end, a Spanish-owned firm received a $132 million loan guarantee.

Energy Secretary Steven Chu announced Thursday that Abengoa Bioenergy Biomass would receive the guarantee to support the development of a commercial-scale cellulosic ethanol plant that is estimated to create 300 construction jobs and 65 permanent jobs in Kansas.

“Investing in a domestic advanced biofuels industry will help us compete in a growing, global clean energy economy while creating jobs in rural communities across the country,â€