The USDA announced loan guarantees to support three biomass power plants in mid-October. The funding, which was awarded by USDA’s Rural Development’s Rural Utilities Service, aims to help electric utilities upgrade, expand, maintain and replace rural America’s energy infrastructure. The agency also funds renewable energy and energy conservation projects. Under this round of funding, biomass projects in Colorado, Hawaii and Texas/Louisiana have received loan guarantees, subject to the recipient meeting the terms of the loan agreement.
In Colorado, Eagle Valley Clean Energy LLC was awarded a $40 million loan guarantee. The support will partially finance a 11.5 MW power plant that takes in woody biomass as fuel.
Green Energy Team LLC was awarded a $72.88 million loan guarantee. The funding will help support the development of a 7.5 MW power plant in Hawaii. That facility will also utilize woody biomass as fuel.