Second Round of Clean Energy Awards Announced by Treasury

Washington, D.C. - The U.S. Treasury Department has announced the second round of awards for cash assistance to energy producers in place of tax credits. This provides provides an additional $550 million, bringing the total to more than $1 billion awarded to dateto companies committed to investing in domestic renewable energyproduction.

“This Recovery Act program is an example of a true federal partnership with the private sector,” said Treasury Secretary Tim Geithner. “Not only are our Recovery dollars meeting an immediate funding need among innovative companies, they are also jumpstarting private sector investment in communities across the country, with benefits for the renewable energy industry and our economy alike.” 

Created under Section 1603 of the Recovery Act, the program provides cash assistance to energy producers in place of tax credits. The payments improve project viability, enabling companies to create and retain jobs, and establish sufficient financing bases for projects that may otherwise not be possible, dramatically expanding and accelerating the development of renewable energy projects throughout the country. Under this program, the federal government provides a cash payment in lieu of a tax credit totaling 30 percent of the qualifying cost of the project; for each federal dollar spent in payments, more than two dollars are spent in private sector investments. 

The following 25 projects were funded in this announcement.

STATE

PROJECT

LOCATION

AMOUNT

CA

Bob's Big Boy LLC

Burbank, CA

$53,648

CA

Ameresco Half Moon Bay LLC

Half Moon Bay, CA

$6,641,747

CA

Ameresco Keller Canyon LLC

Pittsburgh, CA

$2,796,377

CA

BioFuel Oasis Cooperative, Inc

Berkely, CA

$16,858

CO

5135 Company

Denver, CO

$23,130

FL

Conditioned Air Corporation of Naples

Naples, FL

$50,250

HI

Two Daughters

Kihei, HI

$15,150

IA

Barton Wind Farm

Kinsett, IA

$93,419,883

MN

BI

Minneapolis, MN

$25,649

MN

Spruce Tree Centre

St. Paul, MN

$107,764

MO

Farmers City Wind Farm

Tarkio, MO

$84,959,857

MO

Ameresco Jefferson City LLC

Jefferson City, MO

$2,300,244

NC

Solar Billboard Property

Bolivia, NC

$5,850

NJ

Meadowlands Exposition Center

Secaucus, NJ

$767,937

NJ

EHT Leasing LLC

Egg Harbor Township

$118,560

NJ

OC Kearny

Kearny, NJ

$992,006

NV

Enel Salt Wells, LLC

Fallon, NV

$21,196,478

NV

Enel Stillwater, LLC

Fallon, NV

$40,324,394

NY

OP 110 E. 59th St. CHP

New York, NY

$415,774

SD

Impervious Energy Systems, LLC

Whitewood, SD

$31,511

TX

Barton Chapel Wind Farm

Jacksboro, TX

$72,573,627

TX

Rio Grande Valley Sugar Growers, Inc.

Santa Rosa, TX

$10,232,261

TX

Bull Creek Wind LLC

O'Donnell, TX

$91,390,497

TX

Pyron Wind Farm, LLC

Roscoe, TX

$121,903,306

VT

Wheeler Brook Apartments

Warren, VT

$19,155

 

 

 

$550,381,913