in News Departments > New & Noteworthy
print the content item

The Internal Revenue Service, Washington, D.C., has announced that a total of 610 projects for state and local governmental borrowers and for electrical cooperative borrowers will be awarded $800 million over the next two years to support clean energy projects under the Clean Renewable Energy Bonds (CREBs) program.

Under the act, potentially qualified types of projects include wind, closed-loop and open-loop biomass, geothermal, solar, small irrigation power, landfill gas, trash combustion, refined coal production and certain hydropower facilities. Of the approved government projects for the government borrowers, 401 are for solar facilities, 99 for wind, 23 for landfill gas, eight for hydropower and one for an open-loop biomass facility. Among the projects approved for the cooperatives, 33 are for solar, 13 for wind, 13 for landfill gas, 12 for open-loop biomass, six for hydropower and one for a refined coal production facility.

Overall, there were 709 total applications from 40 different states and the District of Columbia requesting allocations for approximately $2.6 billion in CREBs to finance 786 projects. There were 231 proposed projects in California, 67 in New Mexico, 64 in Minnesota, 41 in New Jersey, 38 in Montana, 27 in Colorado, 24 in Massachusetts, 13 in New York and 12 in Ohio, the IRS says. The size of the proposed projects in the applications ranged from $23,000 to $80 million.

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.

Hybrid Energy Innovations 2015