USDA shells $63m into biofuels and renewable energy
The US Department of Agriculture (USDA) is investing approximately $63 million (€57 million) in loans and grants into 264 renewables projects, including biofuels and renewable energy projects.
The investments are a part of USDA’s Rural Energy for America Program (REAP).
‘This funding will have far-reaching economic and environmental impacts nationwide, particularly in rural communities. Investing in renewable energy and energy efficiency projects supports home-grown energy sources, creates jobs, reduces greenhouse gas pollution, and helps usher in a more secure energy future for the nation,’ says Agriculture Secretary Tom Vilsack.
Lakeview Biodiesel, for example, will use a $3.3 million loan guarantee to help acquire a Missouri biodiesel plant and make improvements to bring it online to produce enough biodiesel to run approximately 16,500 vehicles annually.
Those eligible to make use of the REAP program are free to use the funds for energy efficiency improvements, the installation of solar energy, wind energy, geothermal, biomass, hydroelectric, hydrogen, or oceanic energy systems.
For those interested, the next application deadline for grants is November 12, 2015.