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By Staff Three solar energy projects in rural areas of Maine have been awarded $17.6 million in loan guarantees through the U.S. Department of Agriculture’s Rural Energy for America Program. “This substantial investment in renewable energy systems means clean solar energy will be produced locally, potentially resulting in significant savings for residential, commercial and industrial rate payers in Maine’s rural communities,” USDA Rural Development Acting State Director Tommy R. Higgins said in a news release Monday. • Pequawket Trail Baldwin Solar LLC, in Baldwin, will receive $10.9 million to refinance a short-term loan used to build a 6.8-megawatt ground-mounted solar project. The project will also be financed by a borrower contribution of $187,483 and a tax equity investment of $6.2 million. The project has interconnection and net energy billing agreements in place with Central Maine Power Co., is expected to produce 8.4 million kWh of elec ....
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. ....