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

Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.


AWEA: U.S. Installs 853 MW Of Wind In First Half Of 2014

The American Wind Energy Association (AWEA) reveals the U.S. industry's progress thus far this year and underscores the importance of policy certainty.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965