Sundrop Fuels Inc. has closed on the purchase of more than 1,213 acres of land in central Louisiana where the biofuels company plans to locate its plant manufacturing “green gasoline.”

Sundrop has had an option on the property for more than a year while it moved forward with pre-construction efforts, including permitting. The sale price was nearly $4.8 million, according to Rod Noles with NAI/Latter & Blum of Alexandria, who represented the property owners.

Sundrop, a Colorado-based biofuels startup, announced plans in late 2011 to build a $500 million pilot plant for its renewable fuel in the Alexandria area.

The plant will use woody biomass and natural gas to produce liquid fuel­ — billed as the world’s first “green gasoline” — ready to drop into a gas tank. Vehicles don’t need to be modified to use it, and it doesn’t need to be blended with petroleum-based gasoline, the company says.

The facility, now known as Sundrop Fuels Louisiana LLC headquarters, will contain offices as well as maintenance and fabrication operations.