The Export-Import Bank of China has signed a letter of intent to provide a loan of up to $270 million to BlueFire Renewables Inc., an Irvine-based renewable fuels company.
BlueFire converts non-food resources, such as trash, agricultural residues and wood waste, into renewable fuel sources.
The company said the loan from China will help finance the construction of its bio-energy plant in Fulton, Miss. Work on the facility began in 2009 and was halted in 2013. Construction is expected to resume once the financing process is completed, the company said.
