July 2, 2009
DOE to provide $59M in loan guarantees
The U.S. Department of Energy said Thursday it would provide loan guarantees to Nordic Windpower USA and Beacon Power worth $59 million.
Nordic Windpower of Berkley, Calif., was granted $16 million to upgrade an assembly plant in Pocatello, Idaho, that produces one megawatt turbines that use two blades. The two-blade system costs 10 percent less to produce, install and operate, the DOE said in a statement.
These projects represent the innovative technologies that will help America reduce its dependence on fossil fuels and fight climate change, DOE Secretary Steven Chu said.