Beacon and Nordic win USD59m in DoE loans

Tue Jul 7 2009, 09:58 AM

The US Department of Energy (DoE) will provide USD59m in loan guarantees from the American Recovery and Reinvestment Act to Nordic Windpower and Beacon Power. Nordic will receive USD16m to aid the expansion of its Idaho wind turbine manufacturing facility. The remaining USD43m will go to Beacon, which will use its loan to support the development of a 20MW flywheel energy storage plant in Stephentown, New York.

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