Suncor Energy (SU) recently resumed the expansion of its St. Clair ethanol plant near Sarnia, Ontario, with completion expected in late 2010 or early 2011. The $120 million construction project is expected to double the plant’s ethanol production capacity from 200 to 400 million liters per year.

The project synergies will also extend to the Sarnia-Lambton area with the creation of 350 jobs during construction and 15 new jobs to operate the expanded plant. It will also generate demand for feedstock – approximately 40 million bushels of corn annually – from local farmers.

The St. Clair facility is the platform for growth of Suncor’s biofuels portfolio and has contributed to the development of a competitive domestic industry for renewable fuels since 2006. The expansion not only reinforces Suncor’s commitment to increasing renewable energy options in Canada but also builds on the strength of local relationships forged in St. Clair Township and the Sarnia-Lambton region.

The expanded plant along with Suncor’s investment in four wind power projects across Canada is expected to offset nearly 1 million tons of carbon dioxide per year – the equivalent of the annual tailpipe emissions of approximately 200,000 cars.

Zacks Investment Research
View original at: Zacks.com News Feed

Similar Posts: SU | Suncor Energy Inc | Basic Materials | Independent Oil & Gas

RSS feeds: SU | Suncor Energy Inc | Basic Materials | Independent Oil & Gas |

Other Posts by vitalstocks | RSS Feed for this author