NTR’S bio-ethanol US subsidiary, Green Plains Renewable Energy, generated net income of $7.4 million (€5.29m), in the third quarter of 2010.

IRISH renewable energy group NTR will see its stake in US company Green Plains Renewable Energy, fall by 4% as a result of the latter carrying out a major acquisition.

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.