Last Update: Feb 9 @ 2:54 PM
energy
EDC grants $1.2M for renewable energy


PROVIDENCE – The R.I. Economic Development Corporation (EDC) announced Tuesday that it has granted $1.2 million from the R.I. Renewable Energy Fund to eight projects.

The EDC, which administers the fund, said the combination of direct grants, recoverable grants and low-interest loans would spark the creation of 21 full-time jobs and 100 part-time positions.

“I am pleased that we have been able to identify highly diversified renewable energy projects with significant economic development opportunities,” EDC Interim Executive Director J. Michael Saul said in a statement. “These projects reinforce our mission to promote energy independence and create green jobs in our state.”

The grants, ranging from $7,673 to $400,000, were awarded to:

• Slatersville Hydro ($400,000): Hydropower installation for Holliston Sand – a manufacturer of high-quality sands in the New England area.

• SGE ($250,000): 100-kilowatt wind turbine installation in the Easton Pond Business Center in Middletown, which the company is doing itself.

• Tomorrow Biofuels ($250,000): Development of a greenhouse that will capture greenhouse gasses to be transformed into a biofuel to run electricity-producing generators in Cranston’s Howard Industrial Park.

• Hodges Badge ($225,000): Wind turbine installation for a manufacturer of ribbons, rosettes, medals, presentation silver, sashes and buttons.

• The Cooley Group ($50,000): Solar photovoltaic installation for this Pawtucket-based manufacturer of specialty reinforced polymer membranes.

• Ocean State Wind ($50,000): Small modular wind installation on behalf of the West Warwick manufacturing company, Advanced Chemical.

• JTJ Investments ($7,673): Solar photovoltaic installation on the Providence “Wolcott Eco-Building,” a sustainable mixed-use development.

• The Fogarty Center ($8,200): Solar photovoltaic installation for this North Providence nonprofit organization that provides services and programs for children and adults with developmental disabilities.

The General Assembly transferred management of the Renewable Energy Fund from the R.I. Office of Energy Resources to the EDC last year. The fund is supported by a surcharge of 0.3 mills per kilowatt-hour of electricity levied on the vast majority of the state’s electricity customers.

Additional information is available at RIEDC.com.

Not registered? Click here
E-mail this
Print this
Order a Reprint
You must be logged in to post a comment. click here to log in.
Latest Local Press Releases
From the PR Newswire

Contents of this site are all Copyright © 2010, Providence Business News. All rights reserved. Powered By: Creative Circle Advertising Solutions, Inc.