This Energy Company is requesting a USDA Business and Industry guaranteed loan in the amount of $1,400,000 for property improvements, refinancing acquisition debt, and working capital, to capitalize a landfill-to-gas (LFGE) energy facility in New Mexico. This facility utilizes the decomposing organic waste found in the landfill by capturing the methane generated from decomposition, they then pipe the methane in to (2) Caterpillar Generators which generate electricity. The borrowers have entered into a power purchase agreement with the local utility (El Paso Electric Company) for a 10 year off take of the electricity produced with an option to extend upon the maturity of the contract. The landfill itself looks to maintain its production of methane for the next 20 years which is substantiated by an independent study. This Energy Company takes what most people consider a nuisance and utilizes it to produce electricity while reducing greenhouse gas emissions. The borrower has 20+ years successfully developing and operating these facilities.
|Loan Term||15 yrs|
|Participation Availability Amount||0|
|Minimum Participation Amount||206466|
|Original Loan Amount||1400000|
|Full Loan Documentation||Link|