Carlyle/Riverstone Renewable Energy Infrastructure Fund I and Bunge North America said on Friday they will jointly build ethanol plants with yearly production capacity of several hundred million gallons by the end of 2008.

The plants will be built at U.S. grain facilities controlled by Bunge, with Carlyle/Riverstone majority owner and Bunge holding a minority stake in each plant. Financial terms were not disclosed.

Riverstone Holdings LLC and Carlyle Group are co-general partners of Carlyle/Riverstone Global Energy and Power Funds.

Bunge North America is the North American arm of Bunge Ltd., a food and feed ingredient company.