The North Dakota Industrial Commission, consisting of Gov. Doug Burgum, Attorney General Drew Wrigley and Agriculture Commissioner Doug Goehring, announced today that NextEra Energy Resources Development has accepted loan terms under the state’s Clean Sustainable Energy Authority (CSEA) Fertilizer Development Loan Program, while Prairie Horizon Energy Solutions has declined.
The fertilizer loan was authorized by House Bill 1546 during the November 2023 special session, which required the production of hydrogen “by the electrolysis of water” and directed the CSEA to forgive the loan “upon completion of construction of the fertilizer production facility.” The forgiven loan will be paid from the Strategic Investments and Improvement Fund, which receives its funding from oil tax revenue and royalties from state-owned minerals.
At its Jan. 24 meeting, the Industrial Commission approved a CSEA recommendation to authorize $50 million in loan funding to NextEra and $75 million to Prairie Horizon for fertilizer production facilities in Stutsman and Stark counties, respectively. The CSEA recommendation also provided for an applicant to receive the full $125 million if the other applicant were to decline funding.
For media inquiries related to NextEra Energy Resources Development, please contact
Media.Relations@NextEraEnergy.com or (561) 694-4442.
For media inquiries related to Prairie Horizon Energy Solutions, please contact
MediaRelations@marathonpetroleum.com or (419) 421-3577.
More information about the Clean Sustainable Energy program may be found on the Industrial
Commission’s website at https://www.ndic.nd.gov.
Additional information available at the following link:
240304-CSEA-Fertilizer-Development-Loan