Commonwealth Finance Authority Approves $18 Million In New Investments For 31 Projects

Posted by NAW Staff on September 15, 2009 No Comments
Categories : New & Noteworthy

Pennsylvania's Commonwealth Financing Authority (CFA) has approved nearly $18.4 million for 31 projects throughout the state. The investments were made possible through the $650 million Alternative Energy Investment Fund, which was signed by the governor in July 2008.

‘These investments will support energy conservation and efficiency, help a number of school districts save precious tax dollars on their energy bills, and spur new private investment from alternative energy companies that create jobs in a rapidly growing economic sector,’ says Gov. Edward G. Renedell, D-Pa.

Funds will be used for various types of renewable energy, including wind. Pittsburgh Gateways Corp. will receive a $2 million grant and a $493,810 loan to purchase and install a geothermal system, wind turbine and wind mill in the former Connelley Trade School, which it is purchasing from the school district.

Langhorne, Pa.-based Gamesa Technology Corp. will receive a $1 million loan for wind turbine blade manufacturing equipment for the Fiberblade LLC facility in Ebensburg. The company is upgrading the operation to produce larger, more efficient wind turbine blades, and will retain 270 jobs. Total cost for the facility upgrade is $9.3 million; Gamesa will provide $8.3 million in matching funds.

SOURCE: Pennsylvania Office of the Governor

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