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Energy grant for Woodstock wind farm
The U.S Department of Energy and the U.S. Department of the Treasury announced that the Moraine II Wind Farm in Woodstock will receive just over $28 million through a grant-like program included in the American Recovery and Reinvestment Act (ARRA).
The American Wind Energy Association estimates based on past projects that this funding will create approximately 600 jobs in southern Minnesota.
The grant is part of a program in the ARRA where energy producers who qualify for a renewable energy tax credit can instead apply to receive 30% of their construction costs in lieu of the tax credit.
“The Treasury grant program that Congress approved is serving its intended purposes,” said Ralph Currey, President and Chief Executive Officer for Iberdrola Renewables in the US. Iberdrola owns the Moraine II Wind Farm. “Iberdrola Renewables is creating new, family-wage jobs in Minnesota and elsewhere through the development, construction and operation of renewable energy plants at a time when the US economy and local communities need it.”
U.S. Congressman Tim Walz introduced legislation in Congress to extend this program to 2012. The program is currently set to expire in 2010.
The Recovery Act was signed into law by President Obama on Feb. 17.
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