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Planet Ark World Environment News DOE Approves $102 Million Loan Aid For Maine Wind Farm

Date: 04-Mar-11
Country: USA
Author: Timothy Gardner

The Department of Energy said on Thursday it has offered a conditional $102 million loan guarantee to support a wind farm in Maine.

The financial aid will support the Record Hill wind project, a 50.1 megawatt wind power plant and transmission line in Maine.

The project is being developed and managed by Wagner Wind Energy of New Hampshire and Independence Wind of Maine. Record Hill is sponsored by the Yale University endowment fund.

Under loan guarantees, the federal government agrees to pay portions of private loans in case the companies default.

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