Stanislaus County's Board of Supervisors has unanimously approved an extension of its Commercial Property Assessed Clean Energy (C-PACE) program, creating a potential $130 million funding opportunity for Aemetis, a renewable natural gas and fuels company.
The expanded program allows Aemetis to finance multiple renewable energy and efficiency projects through state municipal bonds, including a mechanical vapor recompression system at its Keyes plant, dairy renewable natural gas production expansion, and a planned sustainable aviation fuel facility in Riverbank.
C-PACE financing offers significant advantages for Aemetis, including 30-year terms and repayment through property tax bills. This approach provides enhanced lender protections and liquidity, potentially reducing capital costs for critical infrastructure investments.
By participating in the California Enterprise Development Authority, Aemetis can access tax-free municipal bonds, supporting its strategic goal of developing low-carbon intensity renewable energy technologies. The financing will enable refinancing of recently completed projects like the Keyes solar generation system and renewable natural gas upgrading hub.
This funding mechanism represents a strategic approach to financing renewable energy infrastructure, potentially accelerating the company's transition to more sustainable energy production methods while providing economic benefits to Stanislaus County.
