Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, advised the U.S. Department of Energy's (DOE) Loan Programs Office (LPO) on a $1.5 billion loan to Wabash Valley Resources, LLC, to finance a coal gasification and ammonia fertilizer facility in West Terre Haute, Indiana.

The loan will support the restart and repurposing of a plant idled since 2016 to produce 500,000 metric tons of anhydrous ammonia per year, with a goal of strengthening domestic fertilizer supply chains. The facility will use coal from Southern Indiana and petcoke as feedstock to produce fertilizer for the eastern Corn Belt, all while using carbon capture and sequestration technology to reduce emissions.

The transaction closed under the Energy Dominance Financing Program created by the Working Families Tax Cut Act and represents the second loan completed under the program.

The Department of Energy’s press release can be viewed here. 

The Baker Botts Global Projects team was led by attorneys John Papaspanos, Michael Yuffee, Therese Detablan, and Matthew Lee. They received additional support from the Firm’s Corporate, ESIR, Intellectual Property and Tax groups.

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