ABB_id2059
in News Departments > Policy Watch
print the content item

Gov. Pat Quinn, D-Ill., has signed a financing bill that provides a state-backed guarantee supporting construction of renewable energy and clean coal projects that will create jobs across Illinois.

S.B.1906 clarifies the Illinois Finance Authority's (IFA) existing bonding authority for renewable energy and clean coal projects. Under this law, the state and the IFA will work in partnership to make available up to $3 billion in guaranteed energy project financing for qualified renewable energy and clean coal efforts.

In addition, the law also increases the state and IFA's loan guarantee from $75 million to $225 million for agricultural businesses. It also provides guarantees to back qualified renewable energy projects such as wind, biodiesel or biomass initiatives that are related to agriculture.

This law also positions Illinois to compete for federal stimulus loan guarantees designated for the new green projects.

SOURCE: Office of Gov. Pat Quinn

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.


Utilities Deal "Near-Fatal" Blow To Cape Wind: UPDATED

Despite its remarkable resiliency, could this latest setback mean the end for the controversial offshore wind farm?

Hybrid Energy Innovations 2015