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 |