The Recovery Act program provides cash assistance to energy production companies in place of earned tax credits. The new funding creates additional upfront capital, enabling companies to create jobs and begin construction that may have been stalled until now.

“The Recovery Act is investing in our long-term energy needs while creating jobs in communities around the country,” said Treasury Secretary Tim Geithner. “This renewable energy program will spur the manufacture and development of clean energy in urban and rural America, allowing us to protect our environment, create good jobs and revitalize our nation’s economy.”

Said Secretary Chu: “These grants will help America’s businesses launch clean energy projects, putting Americans back to work in good construction and manufacturing jobs. The initiative will help double our renewable energy capacity over the next few years and make sure America leads the world in creating the clean energy economy of the future.”

Created under Section 1603 of the Recovery Act, the program is expected to provide more than $3 billion in financial support for clean energy projects by providing direct payments in lieu of tax credits. As a result of this first round of funding, more than 2,000 Americans will have access to jobs in the renewable energy industry – both in construction and in manufacturing – while moving the nation closer to meeting the Administration’s goal of doubling renewable energy generation in the next few years.

DOT opened the application process for the 1603 program on July 31, 2009 and is today making the first awards in half the statutorily mandated turnaround time of 60 days. The following is a chart of projects funded as part of today’s announcement. Additional awards under the program will be announced in the coming weeks.

Projects are:

Movement Gym PV System (Solar) Boulder, Colorado $157,809

Solaire Development, LLC Danbury, Connecticut $2,578,717.00

Evergreen Wind Power V, LLC Danforth, Maine $40,441,471

Moraine II Wind Farm Woodstock, Minnesota $28,019,520

Canadaigua Power Partners, LLC (Wind) Cohocton, New York $52,352,334

Canadaigua Power Partners II, LLC (Wind) Cohocton, New York $22,296,494

Wheat Field Wind Farm Arlington, Oregon $47,717,155.00

Hay Canyon Wind Farm Moro, Oregon $47,092,555

Pebble Springs Wind Farm Arlington, Oregon $46,543,219

Highland Wind Farm Salix, Pennsylvania $42,204,562

Locust Ridge II, LLC (Wind) Shenandoah, Pennsylvania $59,162,064

Penascal Wind Farm Sarita, Texas $114,071,646

Total – $502,637,546