A biodiesel plant that's completely energy self-sufficient has been approved for the Oakland, California area.

Oakland-based Viridis Fuels won a long-term contract from the East Bay Municipal Utility District (EBMUD) to build a 20 million gallon per year biodiesel processing facility near the new Oakland Bay Bridge toll plaza.

Feedstocks for the plant are locally collected grease and oil waste, but it's capable of using multiple feedstocks including algae, Jatropha, Camelina and other non-food materials.

The biodiesel will be sold to local fuel retailers, refineries, government agencies and transportation fleet operators. Local trucks, cars, trains, and ships can use biofuels to reduce pollution at the port.

Viridus says it reusing materials to construct the $80 million building, and will incorporate solar, in addition to its combined heat and power (CHP) system.

EBMUD submitted Request for Proposals (RFP) to over 100 biofuel companies in 2009.

Funding resources include mutual funds, private equity investors, venture capital, institutional investors, bonds and grants. The plant offers investors cap-and-trade carbon credits in California's new system, tax equity and B-20 usage mandates in addition to profits.

"This is a stellar example of local entrepreneurs creating much needed green employment and business opportunities for our local community," says Larry Reid, Oakland City Council President.