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Feds to guarantee loans for Maine’s Record Hill wind project
Credit: The Maine Public Broadcasting Network, www.mpbn.net 15 August 2011 ~~
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The U.S. Department of Energy has agreed to guarantee $102 million in loans for developers of a 22-turbine wind power project planned near the Oxford County town of Roxbury.
The U.S. Department of Energy has given final approval to a $102 million loan guarantee for developers of a wind power project planned near the Oxford County town of Roxbury.
U.S. Energy Secretary Steven Chu announced today that the DOE has finalized the guarantee for Record Hill Wind, LLC, an association whose members include former Maine Public Broadcasting Network President Robert Gardiner and former Maine Gov. Angus King.
Conditional approval of the loan guarantee was announced in March. Developers were seeking the guarantee to help revive the project, which was stalled by a court challenge that has since been resolved.
Record Hill would consist of 22 turbines, an eight-mile transimission line and interconnection equipment that would allow developers to connect the project to Central Maine Power’s grid. It’s expected to produce 50.6 megawatts of power.
The Yale University Endowment is also investing in the project, which is being developed and managed by Independence Wind, LLC–founded by Gardiner and Gov. King–and Wagner Wind Energy 1, LLC of New Hampshire.
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