Funded by the Energy Improvement and Extension Act of 2008 and the American Recovery and Reinvestment Act of 2009 (Recovery Act), these energy bonds help government agencies, public power providers, and cooperative electric companies obtain lower cost financing for clean energy development projects.

“The Recovery Act’s innovative bond programs provide communities around the country with financing to jump start important development projects,” said Treasury Deputy Secretary Neal Wolin. “Because of the Bonds awards announced today, energy developers will be able to access lower cost credit to help make the shift to clean renewable energy production, benefiting both our economy and our environment.”

The Treasury Department allocates bond authority to governmental agencies, public power providers, and cooperative electric companies involved in clean renewable energy development and production. The application deadline for the new CREBs allocations was 4 August 2009. These bonds function as tax credit bonds which allow investors to receive federal tax credits in lieu of the payment of a portion of the interest on the bond. For CREBs, the federal tax credits will cover 70% of the interest on the bonds.

Recipients of the bonds include American Municipal Power, Merced Irrigation District, Platte River Power Authority, Public Utility District No 2 of Grant County, City of Henderson in Nevada and the City of Bend in Oregon, all of whom are proposing the development of hydroelectric power.

A full list of the recipients can be found by clicking on the weblink below.

External weblinks

Recipient list