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DOE Issues Loan Guarantees For Energy Projects

27 Sep 2011

Energy Secretary Steven Chu announced that the United States Department of Energy (DOE) has issued $624 million in partial loan guarantees for renewable energy projects in three states.


The first is in New Hampshire for Granite Reliable Power’s 99MW wind farm, which will be the state’s largest with thirty-three Vestas V90 3.0MW wind turbines scheduled to be erected on the site, generating enough electrical power for almost 20,000 homes while saving more than 124,000 metric tons of CO2 emissions annually. The majority of the energy produced by the Granite Power wind farm will be sold to Central Vermont Public Service and Green Mountain Power

Secretary Chu says the investment in New Hampshire brings jobs to the area “and supports the commercial-scale deployment of clean energy technologies in the U.S.  America’s wind energy resources are abundant, clean and mostly untapped. Continued investments in this source of emissions-free energy will strengthen the economy, create good American jobs and help the nation compete with other countries that are quickly scaling up wind power generation.”

Ormat Nevada was awarded a partial loan guarantee up to $350 million to build three geothermal power plants with a generating capacity of 113MW. When finished the plants will increase the state’s geothermal power production by almost 25 percent and will save more than half a million metric tons of CO2 emissions. The geothermal plants’ output will be sold to the Nevada Power.

Secretary Chu notes: “We are investing in geothermal projects that will further develop the nation’s clean energy resources, create skilled jobs for American workers and ensure the U.S. remains a global leader in geothermal energy development. The project announced today will produce virtually no greenhouse gas emissions and will create hundreds of new jobs in Nevada.”

The third loan guarantee is $105 million to construct one of America’s first commercial-scale cellulosic ethanol biorefineries in Emmetsburg, Iowa, which is expected to produce as much as 25 million gallons of ethanol annually. Called Project LIBERTY, it will use enzymes to convert cellulose from corncobs, corn leaves and corn husks into ethanol.

Chu adds: “This project represents a pioneering effort to make broad scale deployment of cellulose ethanol a reality. Producing the next generation of biofuels can not only reduce America’s oil dependency, it can also create vast new economic opportunities for rural Americans.”