in News Departments > New & Noteworthy
print the content item

Boston-based New Generation Energy (NGE), a nonprofit organization that aims to directly support community-based alternative energy projects, has announced that it will be launching the renewable energy investment note (REIN) program. The REIN program enables individuals, businesses and foundations to directly finance the creation of renewable energy and energy efficiency projects.

REINs are fixed interest, fixed term, debt notes that will be offered in denominations of $1,000 to more than $1 million. Proceeds from REINs will be used to provide loans that support renewable energy projects including, wind, solar, biomass and geothermal, and energy efficiency projects. The interest rates for these project-support loans may be as low as 3%, significantly reducing the cost of developing new renewable energy projects for nonprofits, municipalities and community-based, for-profit organizations, according to the organization.

NGE plans to launch the REIN program in 2009 in New England and New York. For this regional launch of the program, the company plans to sell $50 million REINs, enabling an equal level of support, through low interest loans, for financially sound, community-based renewable energy and energy efficiency projects. A national rollout of the REIN program will occur after the regional launch is completed.

SOURCE: New Generation Energy


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015