Wind farm receives DOE loan guarantee
WESTERN MAINE - The Department of Energy said 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.
Related News
The Implications of Decarbonizing Canada's Electricity Grid
OTTAWA - As Canada moves towards a more sustainable future, decarbonizing its electricity grid has emerged as a pivotal goal. The transition aims to reduce greenhouse gas emissions, promote renewable energy sources, and ultimately support global climate targets. However, the implications of this transition are multifaceted, impacting the economy, energy reliability, and the lives of Canadians.
Understanding Decarbonization
Decarbonization refers to the process of reducing carbon emissions produced from various sources, primarily fossil fuels. In Canada, the electricity grid is heavily reliant on natural gas, coal, and oil, which contribute significantly to carbon emissions. The Canadian government has committed to…
