DOE Offers Conditional Commitment for a Loan Guarantee to Support Maine Wind Project
March 3, 2011
U.S. Energy Secretary Steven Chu announced the offer of a conditional commitment to Record Hill Wind LLC for a $102 million loan guarantee. The loan guarantee will support the Record Hill wind project, which includes a 50.6-megawatt wind power plant and an 8-mile transmission line and associated interconnection equipment near the town of Roxbury, Maine. 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. In addition to providing clean, renewable power to New England's grid, the sponsor expects the project to create 200 construction jobs in Maine.
The Department of Energy (DOE), through the Loan Programs Office, has issued loan guarantees or offered conditional commitments for loan guarantees totaling nearly $18 billion to support 20 clean energy projects. For more information about DOE-supported projects, please visit http://www.lpo.energy.gov.