US Awards $550M In New Renewable Energy Grants

Law360, New York (September 22, 2009, 5:30 PM EDT) -- The U.S. Department of the Treasury and Department of Energy have handed out an additional $550 million under a stimulus package program that allows approved businesses to receive direct payments — not tax credits — for biomass, solar, wind and other renewable energy projects.

The $550 million, announced Tuesday, comes just three weeks after the two agencies issued a first round of awards totaling $502 million. Overall, the Energy and Treasury departments have allotted about $3 billion for the program.

“This Recovery Act program is an...
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