Nevada distributes all of revolving loan fund money | RecordCourier.com

Nevada distributes all of revolving loan fund money

Staff Reports

Six solar photovoltaic systems, four wind turbines, three anaerobic digesters, and two hydro

plants are under construction in Nevada, and a large manufacturing facility is on the way thanks to

the Nevada State Office of Energy’s Revolving Loan Program. The program, mentioned

in Nevada Governor Brian Sandoval’s State of the State Address last night, has provided more

than $8 million in low-cost loans to renewable energy project developers.

Nevada is the first state in the nation that has distributed 100 percent of their American

Reinvestment and Recovery Act Revolving Loan funds, according to the U.S.

Department of Energy.

“The beauty of the program is that it will continue indefinitely and keep generating funds to help

get renewable energy projects off the ground,” NSOE Director Stacey Crowley said. “Once the total

project financing is in place, the loans are repaid and funds are reallocated to a new round of

projects. It can make the difference whether a company decides to come to Nevada or not.”

Avatar Energy chose to build their manufacturing facility in Nevada after they received loans for

three anaerobic digesters they are constructing in Lyon and Churchill Counties. Anaerobic

digesters compost animal waste and sewage sludge to produce a gas that is burned as fuel to

make electricity. Their new operation will create up to 200 jobs with plans for a second large

manufacturing facility and associated distribution center planned to break ground in mid-2012.

“Without the Revolving Loan Program, Avatar probably wouldn’t have carried out its aggressive

plans for this exciting facility and create badly-needed manufacturing jobs in Northern Nevada,”

Wade Development President Patty Wade said. “This is indeed a true success story.”

Four new wind turbines were also part of the first phase. Three of these advanced machines

that convert wind energy into electricity are in Washoe Valley and one resides in Reno. In addition,

two hydropower plants that create electrical power from flowing water are also under construction

at the Young Brothers Ranch in Kingston and the Truckee River Ranch in Nye County.