$502 million go to 12 Wind Solar Projects Across Eight States

Today, Treasury Secretary Tim Geithner and Energy Secretary Steven Chu announced  the first round of awards for the American Recovery and Reinvestment Act, allocating  $502 million to 12 solar and wind companies.   The Peñascal Wind Farm by PPM was the largest award winner, taking in $114 million. The goal of the American Recovery and Reinvestment Act is to provide cash assistance to energy production companies in place of earned tax credits. The new funding creates additional upfront capital, enabling companies to create jobs and begin construction that may have been stalled until now. This makes Treasury Secretary Tim Geithner and Energy Secretary Steven Chu this week’s Clean Lanterns.