Economic Message of the Week: DOE Loan Guarantee Invests in Hawaiian Wind Power Project
Energy Secretary Steven Chu announced the Department of Energy's conditional commitment to a $117 million loan guarantee for a new wind energy project in Kahuku, Hawaii that could avert nearly 160 million pounds of carbon pollution and create 200 new jobs.
"This investment will create jobs and cut our dependence on oil, while promoting America's leadership in the global race for the clean energy industries of tomorrow," said Secretary Chu.
The Kahuku project loan guarantee represents the eighth such conditional commitment for a clean energy project by the Department of Energy's Loan Guarantee Program Office. It will allow the installation of twelve 2.5 MW wind turbine generators and a battery energy storage system to provide electricity to 7,700 households.