INNISFAIL, Alta. — This small Alberta town will be home to the worlds largest biodiesel refinery according to a consortium of companies including Riverstone Holdings, the Carlyle Group and Dominion Energy.

The companies plan to build a 300 million gallon bio refinery here that will consist of a 100 million gallon ethanol plant, a 100 million gallon canola crush facility and a 100 million gallon biodiesel facility. The companies behind the initiative say the new facility will place Alberta at the forefront of the Canadian renewable fuels industry.

The rail access, close proximity to large quantities of feedstock and a skilled local workforce made Innisfail, located a few miles south of Red Deer, Alberta, an ideal location for our newest venture with Dominion Energy. Biofuels are taking an increasing role in helping North America to reduce our dependence on fossil and foreign fuels, said Stephen Schaefer, managing director of Riverstone.

The companies involved in the project plan to break ground in the fall of 2008.

We are well under way with project development and environmental approvals, added Curtis Chandler, president of Dominion Energy. The Albertan government has been proactive with us in helping to make our goal of building the largest facility of its type in North America an Albertan reality.