Deal for NW Ind. ethanol plant may fall through

By: Associated Press Email
By: Associated Press Email

A Lake County solid waste official says a deal to bring a trash-to-ethanol power plant to northwest Indiana could fall through if the developer doesn't come up with the money to complete the project by July 19.

Lake County Solid Waste Management Executive Director Jeff Langbehn tells The Times ( ) that the deal is off if Powers Energy of America doesn't secure financing by the deadline.

Powers Energy officials want more time to secure financing for the nearly $300 million they need to build the plant. They say they are negotiating with a major oil company to provide 25 percent in equity financing and buy any ethanol the plant produces.

The solid waste district board set the deadline in April after more than three years had passed since signing the contract with Powers.

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