W. Maine wind power project gets financial boost

March 4, 2011

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AUGUSTA, Maine—Developers of the Record Hill wind project in western Maine say they've received a conditional commitment for a loan guarantee from the federal government to cover part of the cost of the project near Rumford.

Rob Gardiner and former Gov. Angus King said Thursday the Department of Energy's conditional commitment is still subject to final reviews. But they say it's a major step toward resuming construction, which was suspended last year.

It was also announced that the Yale University Endowment will be a major sponsor of the project. It will work with the Maine-based Independence Wind, LLC and Wagner Wind Energy I, LLC of Lyme, N.H., to complete the project.

The 22-turbine wind-power project was approved by the Maine Department of Environmental Protection in 2009 after a nine-month process.