by Jbs090209 b3 — September 7, 2009—The U.S. Energy and Treasury departments jointly announced $502 million in American Recovery and Reinvestment Act (ARRA) cash assistance to energy companies in lieu of earned federal tax credits. This first round of awards is designed to create additional upfront capital, enabling companies to create jobs and begin construction on projects that may have been stalled until now, according to the departments.
Ultimately, the program is expected to provide more than $3 billion in financial support for clean energy projects by providing direct payments rather than federal tax credits. These payments will support an estimated 5,000 biomass, solar, wind, and other types of renewable energy production facilities in all regions of the country.
Of the 12 projects selected in this initial phase, 10 are wind power facilities and 2 use solar power. They include: Movement Gym PV System (solar), CO; Solaire Development, LLC, CT; Evergreen Wind Power V, LLC, ME; Moraine II Wind Farm, MN; Canadaigua Power Partners, LLC (wind), NY; Canadaigua Power Partners II, LLC (wind), NY; Wheat Field Wind Farm, OR; Hay Canyon Wind Farm, OR; Pebble Springs Wind Farm, OR; Highland Wind Farm, PA; Locust Ridge II, LLC (wind), PA; and Penascal Wind Farm, TX.
For more information, see the ARRA Web site.
