The Administration announced late Friday, that it has approved 1.4 billion for the giant wind farm in Oregon.
GE was the company that managed the deal, GE had been lobbying for such a deal to take place and finally attracted the support of the WH!
Join me over the jump for discussion:
Here is the article:
And here is an overlay of the decision:
[Meanwhile, the White House late Friday afternoon announced a conditional commitment to provide a $1.3 billion loan to support the world's largest wind farm. It would finance the Caithness Shepherd Flat project - an 845-megawatt wind-powered electrical generating facility in eastern Oregon sponsored by Caithness Energy LLC and General Electric Energy Financial Services.
"Thanks to the Recovery Act, we are creating the clean energy jobs of the future while positioning the U.S. as a world leader in the production of renewable energy," Energy Secretary Steven Chu said in a prepared statement. "This project is part of the Administration's commitment to doubling our renewable energy generation by 2012 while putting Americans to work in communities across the country."
The project consists of 338 wind turbines supplied by GE. It is the largest project to date to receive a conditional commitment for a loan guarantee under the Energy Department's Financial Institution Partnership Program, which was created in last year's stimulus bill.
The administration has been touting potential and existing jobs created by last year's stimulus bill amid Republican attacks that the $800 billion measure has been ineffective]. The HILL-
As you can see the WH and GE are pretty excited about this. Another reason to GOTV on NOVEMBER 2nd. Wh is turning to already existing rules and recovery act to implement GREEN technology. As you recall, the EPA has raised its fuel standards to 62mpg starting in 2017, and starting in 2012 it goes up to 35mpg.
As Congress goes through its Fiscal conservative ways, I guess this is the only alternative, and a welcome one.