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Saturday, October 29, 2011

RI renewable energy projects receive $2.7 million in stimulus funds/Weekend Edition

Thanks to the Providence Journal for providing an update on the most recent EDC, stimulus grants on renewable energy projects.

These projects have very quick completion dates--they must be finished by March of next year.  That, of course,  reduced the potential candidates for funding.

However, EDC made some good choices, including investing additional money in one of their company success stories, Newport Bio diesel (who, by the way, is a past guest on our show).  This allows Newport Bio Diesel to expand again and, of course, create more job.

Send us updates from your states on similar funding and projects.

Here's the link to the story:  http://news.providencejournal.com/business/2011/10/ri-renewable-energy-projects-receive-27-million-in-stimulus-funds.html#.TqxNDJuseI0

Part of the story:  "The state has awarded $2.7 million in grants from the federal stimulus program that will fund 16 renewable energy projects across Rhode Island.
The Economic Development Corporation and Governor Chafee announced the awards Thursday morning. The grants are being distributed through the state Renewable Energy Fund, which is managed by the EDC, but the money originally came from the American Recovery and Reinvestment Act.
The awards include $500,000 to the West Broadway Neighborhood Association for the installation of residential solar power systems in Providence; $365,775 to Newport Biodiesel for the expansion of their manufacturing and processing facility; and $339,870 to the Economic Development Foundation of Rhode Island for the installation of a 108-kilowatt solar system on an office building in Cumberland."
 We also did a news report on the West Broadway Neighborhood Association's collective investment in solar. Great story, great group.  Shows the range of projects backed by the State.
If you are on the upper East Coast this weekend, drive safely.  




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