Loan Guarantee Program
In August 2011, the Department of Energy closed on a $102 million loan guarantee that enabled Record Hill Wind to build a 50 MW wind power plant and an eight mile transmission line near the town of Roxbury, ME. The power plant—which introduced an innovative, performance-enhancing technology to the U.S.—is currently operational.
The technology leveraged by Record Hill Wind allows more power output than conventional wind turbine technology. Reduced wear-and-tear on the turbines also helps reduce operating and maintenance costs, and preserves the lifetime of the turbine components. By supporting this project, the Department of Energy expanded aggregate credit capacity in the market.
The project created 200 construction jobs and eight permanent jobs. By supporting this project, the Department of Energy expanded aggregate credit capacity in the market.
The Record Hill Wind project avoids almost 100,000 metric tons of carbon dioxide per year, equivalent to the emissions of over 20,000 passenger vehicles. The 50 MW project will generate over 170,000 MWh of emission-free electricity annually, enough to power over 15,000 homes.