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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): December 24, 2008</B>


<P style="font-size: 24pt" align="center"><B>GRANITE FALLS ENERGY,
LLC<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD style="border-bottom: #000000 1px solid"><B>Minnesota</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-51277</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>41-1997390</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>15045 Highway 23 SE, Granite
Falls, MN<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>56241-0216</B></TD>
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  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(320) 564-3100</B>
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 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

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<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="left"><B>Item&nbsp;1.02 Termination of
Material Definitive Agreement</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">On December&nbsp;24,
2008, the Granite Falls Energy, LLC (&#8220;Granite Falls&#8221;) board of
governors determined that the Ethanol Marketing Agreement (&#8220;Aventine
Agreement&#8221;) with Aventine Renewable Energy, Inc. (&#8220;Aventine&#8221;)
had been breached by Aventine, thereby terminating the Aventine Agreement.
Pursuant to the Aventine Agreement, Aventine was the exclusive marketer for the
ethanol produced at Granite Falls&#8217; plant. In October&nbsp;2008 Granite
Falls concluded that it had reasonable grounds for insecurity regarding
Aventine&#8217;s ability to perform under the Aventine Agreement. Accordingly,
in both October&nbsp;2008 and December&nbsp;2008 Granite Falls requested from
Aventine adequate assurance of Aventine&#8217;s ability to perform its
obligations under the Aventine Agreement. Aventine did not provide such
assurance; therefore, the Aventine Agreement was terminated on
December&nbsp;24, 2008.

<P style="font-size: 10pt" align="left"><B>Item&nbsp;1.01 Entry into a Material
Definitive Agreement</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">On December&nbsp;24,
2008, Granite Falls entered into an Ethanol Marketing Agreement (&#8220;Eco
Agreement&#8221;) with Eco-Energy, Inc. (&#8220;Eco-Energy&#8221;). Pursuant to
the Eco Agreement, Eco-Energy agreed to purchase the entire ethanol output of
Granite Falls&#8217; ethanol plant and to arrange for the transportation of
ethanol; however, Granite Falls is responsible for securing all of the rail
cars necessary for the transport of ethanol by rail. Granite Falls will pay Eco-Energy a certain
percentage of the FOB plant price in consideration of Eco-Energy&#8217;s
services.

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 42%" align="left"><B>GRANITE FALLS
ENERGY, LLC</B>

<P style="font-size: 10pt" align="left">Date: December&nbsp;30, 2008

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 42%"
align="left"><U><B>/</B>s/ Stacie
Schuler&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U><BR>
Stacie Schuler, Chief Financial Officer

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<P style="font-size: 10pt" align="center">&nbsp;

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{"company-data": {"conformed-name": "Granite Falls Energy, LLC", "cik": "0001181749", "assigned-sic": "2860", "irs-number": "411997390", "state-of-incorporation": "MN", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51277", "film-number": "081275813"}, "business-address": {"street1": "15045 HIGHWAY 23 S.E.", "city": "GRANITE FALLS", "state": "MN", "zip": "56241-0216", "phone": "320-564-3100"}, "mail-address": {"street1": "15045 HIGHWAY 23 S.E.", "city": "GRANITE FALLS", "state": "MN", "zip": "56241-0216"}, "former-company": {"former-conformed-name": "GRANITE FALLS COMMUNITY ETHANOL PLANT LLC", "date-changed": "20020821"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): December 24, 2008
GRANITE FALLS ENERGY,
LLC
(Exact name of registrant as
specified in its charter)
Minnesota
000-51277
41-1997390
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
15045 Highway 23 SE, Granite
Falls, MN
56241-0216
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(320) 564-3100
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02 Termination of
Material Definitive Agreement
On December 24,
2008, the Granite Falls Energy, LLC ("Granite Falls") board of
governors determined that the Ethanol Marketing Agreement ("Aventine
Agreement") with Aventine Renewable Energy, Inc. ("Aventine")
had been breached by Aventine, thereby terminating the Aventine Agreement.
Pursuant to the Aventine Agreement, Aventine was the exclusive marketer for the
ethanol produced at Granite Falls' plant. In October 2008 Granite
Falls concluded that it had reasonable grounds for insecurity regarding
Aventine's ability to perform under the Aventine Agreement. Accordingly,
in both October 2008 and December 2008 Granite Falls requested from
Aventine adequate assurance of Aventine's ability to perform its
obligations under the Aventine Agreement. Aventine did not provide such
assurance; therefore, the Aventine Agreement was terminated on
December 24, 2008.
Item 1.01 Entry into a Material
Definitive Agreement
On December 24,
2008, Granite Falls entered into an Ethanol Marketing Agreement ("Eco
Agreement") with Eco-Energy, Inc. ("Eco-Energy"). Pursuant to
the Eco Agreement, Eco-Energy agreed to purchase the entire ethanol output of
Granite Falls' ethanol plant and to arrange for the transportation of
ethanol; however, Granite Falls is responsible for securing all of the rail
cars necessary for the transport of ethanol by rail. Granite Falls will pay Eco-Energy a certain
percentage of the FOB plant price in consideration of Eco-Energy's
services.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
GRANITE FALLS
ENERGY, LLC
Date: December 30, 2008
/
s/ Stacie
Schuler
Stacie Schuler, Chief Financial Officer
2