Stanislaus County has unanimously approved an expansion of its Commercial Property Assessed Clean Energy program, creating a pathway for Aemetis to secure approximately $130 million in funding for multiple sustainable energy projects. The county's Board of Supervisors voted to participate in the California Enterprise Development Authority, which administers the C-PACE program that allows private companies to finance energy efficiency upgrades and renewable energy facilities through state municipal bonds that are exempt from state taxes. These bonds offer unique advantages, including 30-year terms and repayment through property tax bills, providing enhanced protections and liquidity for lenders.
Eric McAfee, chairman and CEO of Aemetis, emphasized the importance of the county's support, noting that the program will help fund critical energy projects. The planned initiatives include a mechanical vapor recompression system at the Keyes plant, expansion of dairy renewable natural gas production, and the development of a Riverbank Sustainable Aviation Fuel plant. Additionally, the program will facilitate refinancing of the recently completed Keyes solar generation system and renewable natural gas upgrading hub. These projects align with Aemetis's broader mission of developing innovative technologies that reduce greenhouse gas emissions and replace petroleum-based products.
The county's decision represents a significant advancement in supporting sustainable infrastructure development, providing Aemetis with a flexible and long-term financing mechanism for its renewable energy portfolio. By leveraging the C-PACE program, the company can accelerate its transition to low-carbon technologies while benefiting from favorable financial terms. The program's structure through the California Enterprise Development Authority offers a model for other counties seeking to support renewable energy projects without direct public funding, creating public-private partnerships that advance climate goals while stimulating local economic development through infrastructure investment.
The funding mechanism's importance extends beyond immediate project financing, as it establishes a replicable framework for future sustainable energy initiatives throughout the region. The 30-year financing terms provide stability for long-term infrastructure projects that might otherwise face challenges securing conventional financing, particularly for emerging technologies like sustainable aviation fuel production. This approach demonstrates how local government policy decisions can directly enable private sector innovation in renewable energy, creating a multiplier effect for environmental and economic benefits. The program's success could influence similar expansions in other California counties, potentially accelerating the state's transition to renewable energy sources while supporting local job creation and technological advancement in the clean energy sector.
