Cascade County Commissioners will consider a deal all through their March 22 conference with a third get together law agency to serve as bond counsel for issuing tax exempt municipal bonds for the Calumet renewables undertaking.
Montana Renewables LLC asked for that the county concern $550 million of tax exempt municipal bonds.
The venture is a renewable diesel plant at the present Calumet refinery residence.
DEQ concerns permit for Calumet’s renewable electrical power task
Commissioners voted in February to adopt a resolution saying their intent to difficulty the bonds.
In the resolution, the county states the Montana Renewables will use the proceeds of the bonds to “finance all, or a part of, the prices of buying, developing, putting in, changing, modifying and repurposing infrastructure and improvements…to produce a renewable fuels refinery able of processing renewable feedstocks into sustainable alternate options a hydraulic expansion of the renewable fuels refinery, such as design and installation of a variety of pumps, manage valves, piping and compressors, a new hydrogen plant, and similar improvements acquisition and set up of tools in the renewable fuels refinery to facilitate generation of sustainable aviation gasoline and connected advancements.”
If the bonds are issued, the county will enter into one or more bank loan agreements or other funding or credit score agreements with Montana Renewables for compensation of the bonds, according to the resolution of intent.
Calumet provides positions for conversion to renewable diesel
The contract getting viewed as during the March 22 conference is with Dorsey and Whitney, LLP to serve as bond counsel on behalf of the county to prepare resolutions, notices, get ready and/or evaluate bond funding and closing files and offer authorized feeling.
Expenses and expenses for Dorsey and Whitney’s services will be paid by Montana Renewables, according to the county paperwork.
The proposed undertaking would have a generation capacity of about 15,000 barrels of biodiesel day-to-day, according a release from Montana Division of Environmental High quality.
Calumet planning changeover to renewable diesel operations
DEQ issued a final decision in Oct 2021 on the air quality permit and last environmental assessment for the proposed renewable diesel plant at the current Calumet refinery residence.
The permit is for Montana Renewables Inc. and the analysis bundled the potential emissions from all tools that will be operated at the renewable diesel plant to make certain the facility complies with the Cleanse Air Act of Montana, according to DEQ.
Marlena Halko, the human resources director for Calumet, reported in the course of a housing summit earlier in March that the organization has about 300 contractors on site now for the conversion to the renewables venture. From July through October, she reported they’ll have 600-700 contractors on site.
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The proposed challenge is located on private land. The business estimated that construction would get started in the fall of 2021 and the job would be done by the stop of 2022, according to DEQ application.
In August, Calumet opened 12 total-time positions at the refinery for the challenge.
“These new positions are tangible symptoms of expansion as a end result of an in-development electricity transition project at the plant that is changing a portion of the facility to renewable feedstock processing. In the initial 50 % of next yr, the renewable producing company will be processing soybean oil feedstock into renewable diesel fuels. This will outcome in speedy carbon reductions and provide prospects to involve Montana farm and ranch operators in the provide of renewable feedstocks to the facility,” according to a Calumet launch.