Adair company to receive guaranteed loan for wind turbine

News

August 15th, 2012 by Ric Hanson

U-S Agriculture Secretary Tom Vilsack Tuesday, announced that 106 projects in 29 states, Guam and Puerto Rico have been selected for funding to produce renewable energy and make energy efficiency improvements. Among them, in Adair, Meadow Ridge Wind Energy, LLC is receiving a guaranteed loan of $582,000, that will be used to purchase and install a 1.5 million kW wind turbine. The turbine is expected to generate 5.77 million kWh of electricity annually, enough to meet the annual electricity requirements of more than 500 homes. And, Cumberland Rose Wind Energy, LLC will receive a $582,000 loan for a similar project. The projects are located in the Greenfield and Atlantic areas.

Funding is made available through USDA Rural Development’s Rural Energy for America Program (REAP), which is authorized by the 2008 Farm Bill.

REAP provides grants and loan guarantees for agricultural producers and rural small businesses to reduce energy consumption and costs, use renewable energy technologies in their operations and conduct feasibility studies for renewable energy projects. For a complete listing of recipients today, click here: http://www.rurdev.usda.gov/SupportDocuments/rdREAPRecipientsAugust2012.pdf.