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Corn+Soybean Digest

Valero Acquiring Three More Ethanol Plants

Valero Energy is beefing up its ethanol presence, purchasing three more plants — including two more facilities — for a collective $272 million, according to the Oil Price Information Service (OPIS).

Valero Renewable Fuels Company signed an agreement with ASA Ethanol Holdings to purchase two former VeraSun ethanol plants — one in Linden, IN, and another in Bloomingburg, OH — each with a 110-million-gallon/year capacity, for $200 million.

Also, Valero received approval from a bankruptcy court to acquire Renew Energy's 110-million-gallon/year ethanol facility located near Jefferson, WI, for $72 million following a bankruptcy auction held last month.

The plants will be purchased for approximately 41% of their estimated replacement cost, Valero says.

These acquisitions expand Valero's ethanol production capacity to 1.1 billion gallons/year. Valero acquired seven ethanol plants formerly owned by VeraSun earlier this year for a collective $477 million.

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