Clovis, N.M.-ConAgra Trade Group, a commodity trading arm of ConAgra Foods Inc., will be a minority partner in a new 105 million gallon-per-year ethanol plant planned for Clovis, N.M. The plant will be constructed at ConAgra’s Peavey grain elevator property. ConAgra will supply corn and energy inputs for the plant; market and distribute the plant’s outputs, including ethanol and distillers grains; and provide logistics and risk management services. ConAgra recently noted that new UAN tanks at four locations will also be able to handle ethanol (GM July 10, p. 1). Construction is to start in October 2006, with production expected to be online in late 2007. The plant is expected to create 55 jobs, with an additional 50-75 indirect jobs in service of the plant; about 300 will be employed during the construction phase. The majority partner in the project is Carlyle/Riverstone Renewable Energy Infrastructure Fund I LP, which is owned by major private equity firms Riverstone Holdings LLC and The Carlyle Group. Pennsylvania-based New Hope Partners LLC is assisting the partners in developing the project. New Mexico’s only other ethanol plant, Abengoa, located in Portales, currently produces 30 million gallons per year.
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