Green Plains gives NTR major boost

NTR’s US bio-ethanol vehicle Green Plains Renewable Energy is to become the fourth largest ethanol producer in the United States after acquiring two Nebraska plants for $123.5 million (€91.8m).

Irish-owned NTR has a majority 45% holding in NASDAQ listed Green Plains Renewable Energy (GPRE) which yesterday signed purchase agreements to acquire two ethanol distillation plants in Nebraska.

NTR said the acquisition will increase GPRE’s ethanol production capacity by 45%, from 330 million gallons per year to 480 million gallons, making it the fourth largest ethanol producer in North America. GPRE has a market capitalisation of €60m.