Illinois Launches Renewable Energy Development Fund

December 16, 2005

Governor Rod R. Blagojevich launched a $4 million Renewable Energy Development Fund (RED) to support community-scale wind energy projects throughout Illinois. The Illinois Finance Authority (IFA) will work with community banks and lenders to provide loans and loan guarantees to qualified landowners, farmers and farmer cooperatives who put up and use wind turbines for energy. The program began immediately with a goal to launch community-scale projects by the end of 2006 that will generate new wind energy market capacity across the state. Within the next six months the IFA will host at least three informational seminars across Illinois to educate farmers, developers, and agricultural lenders about the RFD Fund and its requirements. See the Governor's November 7 press release.