EAGLE COUNTY, Colorado - U.S. Sen. Michael Bennet announced Thursday that the U.S. Department of Agriculture has approved a $40 million loan guarantee to Eagle Valley Clean Energy LLC, to finance a renewable generating plant in Gypsum. The plant will utilize wood biomass for fuel and will have a capacity of 11.5 megawatts, enough to power nearly 10,000 homes.
"This loan guarantee is proof of Colorado's leadership in innovative renewable energy technologies, as we work to modernize and improve how rural communities in our state receive their electricity," Bennet said. "These efforts to diversify and clean our energy portfolio are a positive step forward."
The grant is part of the USDA's Rural Development initiative.