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Evansville says deal on energy plant is off

Associated Press Published: May 9, 2012
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EVANSVILLE, Ind. (AP) — Evansville officials say a deal to bring an alternative energy company to the southwest Indiana city's former Whirlpool plant has fallen through.

WFIE-TV reports Mayor Lloyd Winnecke issued a statement late Tuesday saying the city is unable to close financing with Earthcare Energy LLC. The statement says Earthcare hasn't met conditions to receive a $4.8 million loan from the city.

The Evansville Courier & Press says founder Ken Haney has said Humble (UHM'-buhl), Texas-based Earthcare's generator assembly plant eventually would employ up to 120 people. The city council had agreed to provide a startup low-interest loan and pay the company's rent for two years in return for a profit-sharing agreement projected to earn the city $32 million over 15 years.

Earthcare officials didn't return a phone call seeking comment.