A proposed Maple Energy $245 million ethanol plant, sugar plantation and electricity power generation plant in Peru received $25 million from the Inter-American Development Bank, according to Biofuels International.

On its plantation the company expects to achieve a 53 percent increase in sugarcane yield compared to global averages.

The plant will produce 37 megawatts of power and 35 million gallons of ethanol.

The project also has $65 million from the Andean Development Corp., $25 million from the Entrepreneurial Development Bank of the Netherlands and Interbank will provide $25 million.

(Biofuels International, Dec. 17, 2009)

(http://www.biofuels-news.com/…)

DTN: Considering that ethanol projects of any kind, including both corn-based and cellulosic, have found it nearly impossible to acquire bank financing, Maple Energy's feat is somewhat surprising. In recent months we've heard stories about biofuels companies that have tried desperately to find new bank financing. For example, Algona, Iowa-based East Forks Biodiesel LLC reported to the U.S. Securities Exchange Commission Dec. 4 that its investment banker approached about 130 potential strategic and financial buyers around the world, but turned up empty. (Todd Neeley)