Great News for Biopower
Type in this term—loan guarantee—into our archived articles and the results will mainly center on commercial scale projects for advanced biofuels or biobased chemicals, and, the amount of the loan guarantee will be above $5 million. Project developers in the biomass power sector shouldn’t be concerned, however. The residents of Gypsum, Colo., can attest.
Through a $40 million loan guarantee, the community will now have the ability to reduce wildfire risk in the region and improve forest health. The USDA will provide the loan guarantee for Eagle Valley Clean Energy LLC to build an 11.5 MW biomass power plant that will utilize wood residue from the region, and, from logging operations that remove beetle kill infected biomass. Great news for Gypsum, and for the biomass power industry, and here is more great news.
In its most recent announcement of funding into rural communities in need of upgrades to electricity production infrastructure, the USDA also awarded funding to two other projects, in addition to the Eagle Valley Clean Energy project. Both projects act as a reminder that biomass power is important to the USDA.
In Texas, the East Texas Electric Cooperative was awarded $151 million for a 50 MW woody biomass facility. In Hawaii, Green Energy Team LLC was awarded a loan guarantee commitment of just over $72 million for a 7.5 MW woody biomass fueled power facility.