Are the tiny fraction of investments, especially in this now long collapsed and stagnant economy, from the private capital markets, about to pick up, Finally. With once again a needed push from the people's federal treasury, which is not the way this free market capitalism is supposed to work, the con that it was, as to the alternative energy advancements started and blocked some forty years back!
A few, like Duke energy, have been moving to solar and wind, Duke placing panels on industrial and commercial buildings and investing in wind and solar farms, but the rest of the hoarded capital has not moved into investments in the once vibrant economy this country was admired and envied for.
June 24 2011 - Project Amp might sound like the name of a band’s attempt to turn the amp up to 11, but it’s the newly minted name of an ambitious project to put a total of 733 megawatts of photovoltaics on warehouse rooftops across 28 states in the U.S. That’s roughly enough to power 100,000 U.S. homes. It’s an ambitious project that won a $1.4 billion conditional loan guarantee commitment from the Department of Energy on June 22.
The privately financed, four-year project is being developed by a consortium of companies: Bank of America Merrill Lynch, NRG Energy and Prologis.
The arrays will be built on Prologis warehouses and industrial buildings. The power produced will be sold to local utilities through NRG Energy, and Merrill Lynch will provide project financing.
“The success of this project was contingent on getting the loan guarantee commitment,” said NRG spokesperson Lori Neuman. The government’s $1.4 billion conditional loan guarantee is providing the companies with additional financial leverage, allowing for the project total to reach about $2.6 billion. {read more}
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