First Reserve, the worldâÂÂs largest energy-focused private equity firm, has struck its debut deal in the controversial bio-fuels sector and third in three months in alternative energy production.
Biofuels have courted controversy for turning food into fuel amid soaring grain and crop prices but First Reserve said it was avoiding this concern by investing $300m (â¬195m) of equity to build ethanol plants using barley instead of the traditional corn as the source of energy.
