$168.9M Granite Reliable DOE Loan Guarantee Finalized

The 99-megawatt (MW) capacity Granite Reliable Power Windpark in New Hampshire is on course after the Obama administration finalized a partial guarantee of a $168.9 million loan to the project’s developers.

Under the type of guarantee given by the U.S. Department of Energy (DOE), the taxpayers would be on the hook for up to 80 percent of that loan amount, or around $135 million (the amounted cited by the DOE when it conditionally granted the loan guarantee back in June).

New Hampshire wind power plant DOE loan guarantee

image via Brookfield Renewable Power

This Granite Reliable financing joins a host of loan guarantees closing before the DOE’s Section 1705 program for renewable energy development wraps up at the end of the month. The program has been under fire of late due to the Solyndra bankruptcy.

Once completed, Granite Reliable – in Coos County, about 110 miles north of Concord – will be the largest wind-power plant in New Hampshire, consisting of 33 Vestas V90 3.0-MW turbines, said to be enough to power 20,000  homes and offset 124,000 tons of carbon annually. Most of the energy will be sold to Central Vermont Public Service and Green Mountain Power.

The project is headed by Brookfield Renewable Power, through the subsidiary BAIF Granite Holdings, and its partner, Freshet Wind Energy. The developers, who broke ground on the project in February, expect the project will result in around 200 construction jobs before it is completed before the end of this year.

Sports columnist, newspaper desk guy, website managing editor, wine-industry PR specialist, freelance writer—Pete Danko’s career in media has covered a lot of terrain. The constant along the way has been a fierce dedication to knowing the story and getting it right. Danko's work has appeared in Wired, The New York Times, San Francisco Chronicle and elsewhere.

  • Traci_li

    Why is Brookfield get the loan???? ummmmm…..could it be that Brookfield owns the property that the protesters in NYC are camping out?????Could it be that Mayor Bloomberg’s girl friend is on the board of Brookfield???? Why did Brookfield decide not to clean the park that the protesters are camping out??????

  • Anonymous

    Big deal Texas has 10s thousand of these generatoru00a0 without a bunch of the energy departsments moneySounds like a nother money give away by obama.u00a0 We have individual with more turbens than 33 and they are just desert cowboys called wildcaters