Chinese investors have withdrawn from a deal to fund two biofuel plants in southeastern Finland, the Finnish broadcasting company Yle reported recently.

The Chinese company was supposed to provide EUR 200 million for the projects in Myllykoski and Savonlinna. The financing agreement was expected to be signed in March and the investors only made known their decision to pull out in July, according to the article.

Myllykoski-based bioethanol company Suomen Bioetanoli had plans to build a straw-based bioethanol facility at the site of the former Myllykoski factory in Kouvola. Its chief executive Aate Laukkanen says that the project is now highly unlikely, although he will still apply for a continuation of governments grants awarded to the planned bioethanol facilities in 2014.


Provided by Renewables Now exclusively for Essentica.