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

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

BG 2015DblBox_id2032
Renewable NRG_id1934
Hybrid Energy Innovations 2015