NextEra awarded loan for fertilizer facility
Published by Emily Thomas,
Deputy Editor
World Fertilizer,
The North Dakota Industrial Commission, consisting of Gov. Doug Burgum, Attorney General Drew Wrigley and Agriculture Commissioner Doug Goehring, has announced that NextEra Energy Resources Development has accepted loan terms under the state’s Clean Sustainable Energy Authority (CSEA) Fertilizer Development Loan Programme, while Prairie Horizon Energy Solutions has declined.
The fertilizer loan was authorised by House Bill 1546 during the November 2023 special session, which required the production of hydrogen ‘by the electrolysis of water’ and directed the CSEA to forgive the loan ‘upon completion of construction of the fertilizer production facility.’ The forgiven loan will be paid from the Strategic Investments and Improvement Fund, which receives its funding from oil tax revenue and royalties from state-owned minerals.
At its January meeting, the Industrial Commission approved a CSEA recommendation to authorise US$50 million in loan funding to NextEra and US$75 million to Prairie Horizon for fertilizer production facilities in Stutsman and Stark counties, respectively. The CSEA recommendation also provided for an applicant to receive the full US$125 million if the other applicant were to decline funding.
Read the article online at: https://www.worldfertilizer.com/project-news/07032024/nextera-awarded-loan-for-fertilizer-facility/
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