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"JOB-CREATING, GREEN-ENERGY DEVELOPMENT FUNDING AVAILABLE, GOVERNOR REDNELL SAYS"

JOB-CREATING, GREEN-ENERGY DEVELOPMENT FUNDING AVAILABLE, GOVERNOR REDNELL

SAYS$25 Million Program to Encourage Projects, Jobs Associated With Wind,

Geothermal TechnologiesHARRISBURG, Pa. Governor Edward G. Rendell announced that $25 million is

now available to spur new jobs and economic growth in the renewable energy

manufacturing industry, and to help businesses, non-profits and other

groups take advantage of the clean, money-saving technologies it produces.The new Renewable Energy Program, according to Governor Rendell, is a major

step in Pennsylvania's drive towards energy independence and building a

cleaner, greener economy."Having this plan in place is a major step forward in creating jobs,

growing Pennsylvania's manufacturing base, and producing environmentally

friendly, home-grown energy," said Governor Rendell. "Like other major

industries, the difficult economy and tight credit market have slowed

growth among renewable energy manufacturers, but by making these resources

available now, we're opening new markets and positioning Pennsylvania to

capitalize on future demand as the economy improves."We already have a solid foundation with our skilled workforce, a

ready-made network of suppliers, and a commitment to using more alternative

and renewable energy sources. Those considerations, combined with these new

investments, will allow Pennsylvania to compete and attract more skilled,

well-paying jobs in this cutting edge industry, while using a greater share

of emission-free energy," he said.Businesses, not-for-profit entities, economic development organizations,

and political subdivisions are eligible to tap into the $25 million

Renewable Energy Program for wind and geothermal projects -- one component

of the Alternative Energy Investment Act that Governor Rendell signed into

law in July.Other Alternative Energy Investment Fund programs are in development. Of

the $650 million fund, $500 million will be bond financing through the

Commonwealth Financing Authority, or CFA.Geothermal projects may include heat-pump systems that use the ground,

groundwater and underground mine water as an energy source. Eligible wind

energy projects include facilities to produce or distribute wind-generated

energy, as well as manufacturing facilities for wind turbines and other

wind-energy components.Under the guidelines approved recently, applicants must provide evidence of

at least $1 in matching funds for every $1 of program funds awarded by the

commonwealth.Manufacturers of components for renewable-energy generation equipment may

receive 10-year loans of up to $35,000 for every new job projected to be

created within three years after approval; they may receive grants of up to

$5,000 for each new job created. CFA is also making guarantees of up to $5

million available in the form of a standby letter of credit.The Renewable Energy Program is administered jointly by the Department of

Community and Economic Development and the Department of Environmental

Protection under the direction of the CFA.To view the original article please click here.To view the latest renewable energy jobs and green collar jobs please click

here