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FPL Energy enters into agreement with Citrus Energy for first of its kind ethanol plant

JUNO BEACH, Fla. -- FPL Energy, LLC, a subsidiary of FPL Group (NYSE:FPL), today announced that it has signed a letter of intent with Citrus Energy, LLC, of Boca Raton, FL, to develop the first ever commercial scale citrus peel to ethanol plant. 

The cellulosic ethanol plant will be owned and operated by FPL Energy and is expected to produce four million gallons of ethanol per year.  It will be located on the grounds of a local Florida citrus processor.

"FPL Energy is delighted to be working with Citrus Energy on this exciting new project to produce a clean, affordable, and domestically-produced biofuel utilizing Florida’s existing citrus industry infrastructure and bringing new jobs to rural communities,” said Mike O’Sullivan, senior vice president of development for FPL Energy.

“Citrus Energy’s mission is to develop fuel ethanol that minimizes environmental impact and cost by using citrus waste and other biomass.  FPL Energy, as the largest renewable energy generator in the U.S., is the ideal partner,” said David Stewart, president of Citrus Energy. 

FPL Energy said that ethanol from citrus peel could result in a new Florida industry producing over 60 million gallons of fuel per year, which could replace about one percent of Florida’s annual gasoline consumption.

FPL Energy is a leading competitive energy supplier utilizing clean fuels such as natural gas, wind, solar, hydroelectric and nuclear to generate electricity. It is the nation’s leader in wind energy with 49 wind facilities in operation in 15 states. It is a subsidiary of FPL Group, (NYSE: FPL) one of the nation's largest providers of electricity-related services with annual revenues of nearly $16 billion. FPL Group's principal subsidiary is Florida Power & Light Company, one of the nation's largest electric utilities, serving 4.4 million customer accounts in Florida. Additional information is available at www.FPLEnergy.comwww.FPLGroup.comand www.FPL.com.