Stanislaus County Expands C-PACE Program to Support Aemetis' Renewable Energy Projects

Stanislaus County has taken a significant step toward supporting renewable energy development by unanimously approving an expansion of its Commercial Property Assessed Clean Energy (C-PACE) program. The move could provide Aemetis, a renewable fuels company, with approximately $130 million in financing for critical energy efficiency and renewable energy initiatives.

The expanded program allows Aemetis to leverage innovative financing mechanisms through California's municipal bond system, providing the company with extended 30-year terms and unique repayment structures tied to property tax bills. This approach offers enhanced financial protections and liquidity for potential lenders, creating new opportunities for sustainable infrastructure investment.

Specific projects expected to benefit from the C-PACE financing include the Keyes plant's mechanical vapor recompression system, dairy renewable natural gas production expansion, and the planned Riverbank Sustainable Aviation Fuel plant. Additionally, the program will enable refinancing of recently completed projects like the Keyes solar generation system and renewable natural gas upgrading hub.

By participating in the California Enterprise Development Authority, Stanislaus County has created a pathway for tax-free municipal bond financing that could accelerate renewable energy development. The program's structure incentivizes private industry investment in clean energy infrastructure, potentially reducing greenhouse gas emissions and supporting California's broader sustainability goals.

Aemetis CEO Eric McAfee highlighted the significance of the county's support, noting that the C-PACE program provides a novel capital source for expanding the company's renewable energy portfolio. The financing mechanism represents a strategic approach to funding complex, long-term sustainable infrastructure projects that might otherwise face significant financial barriers.

The expanded C-PACE program underscores a growing trend of local governments actively supporting renewable energy transitions by creating flexible, innovative financing mechanisms. For Aemetis, this development could represent a pivotal moment in scaling its renewable energy and fuel production capabilities, potentially setting a precedent for similar initiatives in other California counties.