USDA Rural Development is investing $22,300,000 through loan guarantees for solar renewable energy projects in Belfast and China through its Rural Energy for America Program (REAP).Two solar businesses will receive a total of $22,300,000 in funding through Rural Energy for America Program Loan Guarantees, in partnership with the lender, Crestmark, A Division of Meta Bank:
Perkins Road Belfast Solar LLC, located in Belfast, will receive a total of $11,100,000 to refinance a short-term loan used to build a 7.0 MWdc ground-mounted solar project located in Belfast. In addition to this Guaranteed Loan, the project will be financed by a borrower contribution of $120,065 and a tax equity investment of $6,400,000.
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USDA to invest $11 million in Belfast solar project
Feb 23, 2021
Bangor USDA Rural Development is investing $22,300,000 through loan guarantees for solar renewable energy projects located in two Maine communities through its Rural Energy for America Program.
Two solar businesses will receive a total of $22,300,000 in funding through Rural Energy for America Program Loan Guarantees, in partnership with the lender, Crestmark, A Division of Meta Bank:
Perkins Road Belfast Solar LLC, in Belfast, will receive a total of $11,100,000 to refinance a short-term loan used to build a 7.0 MWdc ground-mounted solar project located in rural Belfast, Maine. In addition to this Guaranteed Loan, the project will be financed by a borrower contribution of $120,065 and a tax equity investment of $6,400,000. The project has interconnection and net energy billing agreements in place with Central Maine Power Company, is expected to produce 8,829,000 kWh of electricity in the first fu
The loan guarantees were awarded through the Rural Energy for America Program, operated by the U.S. Department of Agriculture's Rural Development office.
Mon, 02/08/2021 - 11:45am
The U.S. Dept. of Agriculture is investing $17.6 million through loan guarantees for solar renewable energy projects in Maine through its Rural Energy for America Program, and a Waldoboro privately-owned venture will receive $4 .76 million of that total.
For these loans, the federal government is working with the lender Crestmark, A Division of Meta Bank.
The projects are:
Pequawket Trail Baldwin Solar, LLC, located in Baldwin, will receive $10.9 million to refinance a short-term loan used to build a 6.835 MWdc ground-mounted solar project located in Baldwin.
In addition to the REAP loan, the project will be financed by a borrower contribution of $187,483 and a tax equity investment of $6,200,000.