Henry County, Va.-based Multitrade Biomass Holdings said it plans to build a $21.5 million biomass facility inside an abandoned underwear factory in Rabun Gap, Ga.

The former Fruit of the Loom factory is expected to be converted into a 17 megawatt plant producing energy from local forestry industry waste for Green Power EMC, a nonprofit group of 42 electricity corporations. Tucker, Ga.-based Green Power plans to derive renewable energy from sources such as biomass, solar, wind and hydro and sell it to customers of electricity co-ops.

The plant is expected to create 95 jobs and power 10,000 homes. It"s expected to be operational in August 2009.

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