The Morning Journal reports that Baard Energy, a Vancouver, Washington-based energy company that is building ethanol plants in Ohio and Nebraska, may soon announce plans for a $4-billion coal-to-liquids (CTL) plant in Wellsville, Ohio. Wellsville is south of Youngstown, Ohio and west of Pittsburgh, Pennsylvania.
Neither the company nor county officials would confirm the report, although Baard’s president reportedly told the Ohio Coal Association that the company had selected the site.
The plant is expected to use seven million tons of coal a year—supplied by barges on the Ohio river—to convert into 35 million barrels of product—about 95,000 barrels per day.
The Youngstown Business Journal notes that Baard would finance the plant through a mixture of debt and equity. Under the Energy Policy Act of 2005, the Department of Energy is authorized to guarantee loans for such efforts, which could reduce Baard’s costs of borrowing.