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Peda Offers Guidelines for $10 Million in Aid for Clean Energy Projects

Posted on: Monday, 15 August 2005, 03:00 CDT

Environmental Protection Secretary Kathleen A. McGinty announced that the newly revitalized Pennsylvania Energy Development Authority has released new guidelines for $10 million in available financial assistance to build clean energy projects in the commonwealth.

"Pennsylvania is leading the way in the development and deployment of new technology, offering significant financial incentives to make energy manufacturing a cornerstone of our economic future and ensuring that more electricity generation comes from environmentally beneficial resources," McGinty said.

Applicants may seek financial assistance in the form of grants, loans or loan guarantees for a variety of electric power projects including wind, solar, biomass, waste coal and coal gasification, among others. Applied research projects related to electric power also are eligible to apply.

Proposed projects will be evaluated on a variety of criteria, including their ability to promote Pennsylvania's indigenous energy resources, encourage energy diversity and enhance energy security. Projects will be judged on their potential to create jobs and stimulate investment in the commonwealth. Potential environmental benefits, as well as technical feasibility and cost-effectiveness, also will be considered.

The Pennsylvania Energy Development Authority originally was established in 1982 to promote applied energy research, provide financial incentives for the deployment of clean, alternative energy projects and promote investment in Pennsylvania's energy sector. After a period of inactivity, Gov. Rendell. revitalized PEDA as part of his strategy to build a clean, indigenous, diversified energy industry in the state.

Gov. Rendell has been working with members of the General Assembly and legislative leaders who have been crucial to efforts to put in place policies and financial tools designed to promote advanced energy projects in the state.

Pennsylvania is now home to one of the nation's most progressive alternative energy portfolio standards, ensuring that in 15 years, 18 percent of all of the energy generated in the commonwealth comes from clean, efficient sources. Opportunities exist for low-cost, longterm partnerships with existing manufacturers and industrial operations.

The governor also is promoting the development of a new manufacturing sector that focuses on advanced and renewable energy systems, energy efficiency and conservation, and clean advanced energy businesses, and encouraging companies that are located elsewhere to consider establishing manufacturing, sales, marketing and distribution centers in Pennsylvania.

PEDA's guidelines are available at wwwdep.state.pa.us, Keyword: PEDA.

Copyright Northeast Pennsylvania Business Journal Jul 01, 2005

Source: Northeast Pennsylvania Business Journal

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