EDC Funds 17 Impending Green Projects in Rhode Island-

The Rhode Island Economic Development Corporation has granted $681,875 in renewable energy funds to 17 regional projects; the largest lump sum offered through the Renewable Energy Fund since the EDC took over endowment responsibilities a year before. Fourteen of the seventeen cash grants will be dedicated toward practicability studies of wind turbines at different locations throughout the state, with most studies to be performed by local government municipalities. The multi-million dollar Renewable Energy Fund was set in place to finance green residential and commercial projects, although since taking over the fund last year, the EDC has implemented a new agenda to distribute a portion of the cash toward non-profit and city affordable family housing projects. The Economic Development Corporation delivered the first grant to the city of Jamestown in early January, which will perform wind power viability studies in the area. Other projects include more wind studies, solar power capability research, and even potential hydropower projects throughout different municipalities in the vicinity. “I have set an aggressive goal to increase the use of renewable sources of energy to generate 20 percent of the state’s electricity need… The Renewable Energy Fund is a critical component of our plans as it supports programs that will fund alternative energy sources for our cities and towns,” said R.I. Governor Donald L. Carcieri.