GREEN Plains Renewable Energy – theNasdaq-quoted, US bio-ethanol business in which Irish group NTR is the single largest shareholder – has reported a full year net profit of $19.8 million (€14.6m), for 2009.

NTR could consider the possibility of publicly floating some of its subsidiary businesses over the long-term, in a bid to raise further funds.

IRISH renewable energy and waste management group, NTR is hopeful of entering the southern European solar energy market within the next two years, on the back of developing its supply chain in that area in the North American market.

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 renewable energy and waste management group NTR has expressed confidence in the prospects of its US-based bio-ethanol producer Green Plains Renewable Energy (GPRE), even after the Nebraska-based business reported a net loss of $1.8 million (€1.33m) for the fourth quarter of last year.

RENEWABLE energy and waste management group, NTR is to merge its ethanol business in the US with Green Plains Renewable Energy.