Board to consider amendment to abatement agreement with Nacero

Nacero, Inc. plans to build a natural gas processing and production facility in Penwell. The company plans to use a more environmentally-friendly process to convert natural gas to methanol, and methanol to gasoline. (Odessa American File Photo)

The Odessa College Board of Trustees will consider a second amendment to the enterprise zone tax abatement with Nacero when they meet at 6 p.m. Dec. 7 in the Saulsbury Room of the Electronic Technology Building, 201 W. University Blvd.

Nacero TX 1 LLC asked for more time on its tax abatement agreement with Odessa College during the board of trustees work session Tuesday.

At a Nov. 28 work session, Board Chair Gary Johnson said trustees would recommend the board approve a three-year extension for Nacero.

The Ector County ISD Board of Trustees recently approved an extension as well.

OC President Gregory Williams said Nov. 28 that Nacero Director of Community Relations Wesley Burnett has kept in touch with him and the OC team to keep them apprised of what’s going on with the project.

According to its website, “Nacero’s Penwell facility will convert billions of British thermal units (Btus) of renewable natural gas and associated gas from the Permian into over 1 billion gallons of SAF (sustainable aviation fuel), LCAF (Lower Carbon Aviation Fuel) and other light products annually. Using captured biogas feedstock, integrated carbon capture, and 100% renewable power will result in millions of tons of CO2 savings annually while creating thousands of clean energy jobs and adding a forecast $20 billion to the regional economy.”

Burnett said Nov. 28 that the plant will be located two miles west of FM 866 on the north side of I-20 near Penwell.

Plans are still to have 350 full-time and 150 contract workers at the plant and 2,500 construction jobs.

He added that they don’t anticipate any less than seven to 10 years of construction. The cost has been estimated at $7 to $10 billion.

Burnett said Nacero has 600 acres under control and there are other sections around them.

Plans are also to use solar power for the Nacero plant.

The Oberon solar project is about 7 miles to the west, Burnett said.

On a separate item, the board will discuss the Orgis Energy abatement.

At the Nov. 28 meeting, Johnson said the finance committee decided it was in the best interest of the college that they not award a rebate to Orgis Energy, a solar energy firm.

The rebate went through when Orgis first requested it, but Johnson said they didn’t start the project on time.

Also on the agenda:

  • Monthly statements and budget amendments; at PTK (Phi Theta Kappa) update; Institutional Effectiveness report; Vision 2030+ update; and the President’s Report.
  • The 2023 audit.