U.S. government awards funds for clean energy projects

September 4, 2009 at 3:12 pm Leave a comment

 From the web via Emerging Energy News.

WASHINGTON: U.S. Treasury Secretary Tim Geithner and Energy Secretary Steven Chu have announced US$502 million in the first round of awards from an American Recovery and Reinvestment Act (Recovery Act) program that provides cash assistance to companies for clean energy projects in place of earned tax credits.

The new funding creates additional upfront capital, enabling companies to create jobs and begin construction that may have been stalled until now due to slow economic conditions.

Geithner said, “This renewable energy program will spur the manufacture and development of clean energy in urban and rural America, allowing us to protect our environment, create good jobs and revitalize our nation’s economy.”

Chu commented, “These grants will help America’s businesses launch clean energy projects, putting Americans back to work in good construction and manufacturing jobs. The initiative will help double our renewable energy capacity over the next few years and make sure America leads the world in creating the clean energy economy of the future.”

Created under Section 1603 of the Recovery Act, the program is expected to provide more than US$3 billion in financial support for clean energy projects by providing direct payments in lieu of tax credits. These payments will support around 5,000 biomass, solar, wind, and other types of renewable energy production facilities in all regions of the country over the life of the program.

Around 2,000 jobs are estimated to have been created as a result of this first round of funding, primarily in construction and manufacturing related to the renewable energy industry.

The Treasury Department opened the application process for the 1603 program on July 31. Additional awards under the program will be announced in the coming weeks.

Projects that received funding include the following (please note that none are located in Hawai’i):.

  • US$157,809 for Movement Gym PV System in Boulder, CO, for a solar project
  • US$2,578,717 for Solaire Development in Danbury, CT
  • US$40,441,471 for Evergreen Wind Power V in Danforth, ME
  • US$28,019,520 for the Moraine II Wind Farm in Woodstock, MN
  • US$52,352,334 for Canadaigua Power Partners, LLC in Cohocton, NY for a wind project
  • US$22,296,494 for Canadaigua Power Partners II, LLC in Cohocton, NY for a wind project
  • US$47,717,155 for the Wheat Field Wind Farm in Arlington, OR
  • US$47,092,555 for the Hay Canyon Wind Farm in Moro, OR
  • US$46,543,219 for the Pebble Springs Wind Farm in Arlington, OR
  • US$42,204,562 for the Highland Wind Farm in Salix, PA
  • US$59,162,064 for Locust Ridge II, LLC for a wind project in Shenandoah, PA
  • US$114,071,646 for the Penascal Wind Farm in Sarita, TX
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    Entry filed under: Political Action, Renewable Energy.

Hawaiian Taro Sale U.S. accepting applications for renewable energy funding

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