Coos County wind farm receives $135M federal loan guaranteeBy DENIS PAISTE
New Hampshire Union Leader
June 21. 2011 1:29PM
MANCHESTER - The U.S. Department of Energy has issued a conditional loan guarantee for Granite Reliable Power LLC for up to $135.76 million to develop a wind generation project in Coos County.
The 99-megawatt (MW) project will be situated in the central portion of Coos County in northern New Hampshire, approximately 110 miles north of Concord.
"The development of new, alternative energy sources is an important cornerstone of a comprehensive energy strategy that transitions our economy away from imported fossil fuels to clean, homegrown energy and makes us more competitive in the global economy," said U.S. Sen. Jeanne Shaheen, D-N.H., a member of the Senate Committee on Energy and Natural Resources.
'This project will support clean energy development and create jobs in the most economically distressed part of the state,' Shaheen said.
The majority of the power from the project will be sold to Central Vermont Public Service and Green Mountain Power, according to an Energy Department release.
WestLB AG is the lender-applicant for the project, which was submitted under the Financial Institution Partnership Program.
'This Administration is creating clean energy jobs, in New Hampshire and in countless states across the country, which will help the U.S. to recapture the lead when it comes to the deployment of renewable energy,' Energy Secretary Steven Chu said in a statement.
The windpark will be the largest generator of wind energy in the state and is expected to bring over 200 jobs to the northern region of New Hampshire.
Berlin's Mayor, Paul Grenier, and Shawn Cleary, business agent for Ironworkers Local 7, expressed concern last month that the developers of a wind- power project were not planning to use as much local labor as expected.