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« Update: Police bust gambling, drug ring | Today | Updated: Bruins rookie receiving medical treatment » December 11, 2006More windmills for Portsmouth?PORTSMOUTH -- The Town of Portsmouth has won approval to issue $2.6 million in Clean Renewable Energy Bonds to go forward with a proposal to build up to two major wind turbines to offset municipal energy costs. The Internal Revenue Service notified the town last week that it could issue the interest-free bonds to fund the purchase and installation of one or two turbines at the public high school or middle school, town officials confirmed today. The federal agency approved the borrowing of $800 million in bonds for 610 renewable energy projects across the country. The Clean Renewable Energy Bond program was created under the federal Energy Tax Incentives Act of 2005. The Portsmouth Abbey, a private school in Portsmouth, put up the state's first major wind turbine in the spring. -- Journal staff writer Alex Kuffner The town's Economic Development Committee is looking at the financial benefits of inPortsmouth was one of only two entities in Rhode Island to be approved for the federal funding. The Narragansett Bay Commission will also be allowed to issue $2.6 million in bonds to put up a proposed wind turbine at its Fields Point facility in Providence and pursue a bio-gas project at its plant in East Providence. The proposal for wind turbines in Portsmouth is still being studied. vesting in wind energy and expects to make a recommendation on whether to go ahead with the project by next spring. The Town Council would then make a decision on the recommendation. Any bond issue would need to be approved in a townwide referendum. Posted by Steve Peoples CommentsPost a commentPlease be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish. |
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ProJo 9 to 5 News Blog
Oct 2005 - March 2006