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Clinton council extends Hobo Renewable Diesel deadline to allow financing push
Summary
The Clinton City Council adopted a resolution approving a second amendment to its development agreement with Hobo Renewable Diesel LLC, extending key deadlines to Dec. 31, 2026, to give the company time to secure equity and debt financing for a project Hobo representatives said would cost roughly $1.9 billion.
The Clinton City Council voted to approve a second amendment to the purchase, sale and development agreement with Hobo Renewable Diesel LLC, extending the developer's deadlines through Dec. 31, 2026, to allow the company additional time to complete equity and debt financing.
Matt (city staff) told council the extension is intended to align Hobo's final investment decision (FID) with engineering, procurement and construction timetables and the company's financing process. "This gives them runway to get to FID and align their EPC partners," Matt said during the meeting.
Mike Kois, representing Hobo, and John Gallagher, the…
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