Funds come for wind farms

Funds come for wind farms

It has been announced by the Coastal Community Action Program that they have received funding for construction of 4 one and a half MW wind turbines on twenty nine private acres of land in the hills close to County Line Road of Grayland.

This has been called the Wind Energy Project and the energy that is going to be produced from these turbines is going to be sold to Gray’s Harbor PUD & the profits that are earned from it is going to be used for funding a number of social service programs of CCAP including those like meals on wheels & home care assistance to seniors, AIDS medical management and transportation services for disable people.

We believe that this is the 1st wind project which is to be developed for funding an organization on community action.

“We are excited,” said Craig Dublanko, CFO of CCAP & the manager of the project to the Daily World. “The community treats this as a project for renewable energy. We consider this to be a sort of social service project that uses renewable energy.”

Dublanko feels that this non-profit social service group is going to receive $3 million worth of tax credit in the new market from Shore Bank Enterprise Pacific Coast V, which is a partnership of Shore Bank Enterprise Cascadia of Ilwaco & Wells Fargo Community Development Corporation.

Also, National Community Fund I, affiliated to the United Fun Advisors of Portland, Oregon, as well as a subsidiary of United States Bancorp in Minneapolis, Minnesota helped monetize $7 millon in  tax credit and a tax credit on renewable energy investment.

“Here, at UFA, we make sure that every investment of ours has enough environmental or social impact,” said a principal of theirs, Chris Hasle. “This CCAP project is like a homerun for every person involved as it has a very high return for the second as well as the third bottom lines.”

Financing is meant for supplementing $5 million worth of a state grant which was secured through state Senator Jim Hargrove during 2007.

CCAP believes that their project is going to produce around thirteen and a half million Kwh of clean and efficient energy every year and also earn around $500,000 every year. The lifespan of these turbines is supposed to be close to twenty five years.

Dublanko says that they have already begun preparing to construct the wind turbines at the site.

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