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Obama pledges billions to develop clean energy

Post Time:Mar 08,2010Classify:Industry NewsView:90

President Obama is rampingupefforts to promote clean energy. He's made repeated speeches on the topic, and in the last month, he's pledged$10 billion in federal loan guarantees for solar, wind and nuclear power as well asenergy-efficientwindows.

On Friday [March 5] ,Energy Secretary Steven Chu announced $117 million in loan guarantees to help builda 30-megawatt wind energy project in Kahuku, Hawaii, and$72 millionto Minnesota-based Sage Electrochromics [Faribault, Minn.] to build a 250,000-square-foot facility to make electronically tintable, energy-saving glass.

These loan guarantees follow $8.3 billion offered last month to help build two new nuclear power reactors in Georgia and $1.4 billion to create the world's largest solar complex in California's Mohave Desert, according to a March 6 USA Today report.

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