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Home ยป News ยป News ยป Pingree helped King get $102 million Federal loan guarantee
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Pingree helped King get $102 million Federal loan guarantee

Steve RobinsonBy Steve RobinsonMarch 30, 2012No Comments2 Mins Read
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The Maine Wire has obtained a letter sent from U.S Congresswoman Chellie Pingree (D- Maine) to the Department of Energy in support of Angus Kingโ€™s Record Hill Wind project. Record Hill was named last week in a report from the House Committee on Oversight and Government Reform as one of a number of companies that received federal loan guarantees under questionable circumstances. Kingโ€™s company received a $102 million government loan guarantee, despite having more than sufficient cash on hand for the project, as well as the backing from the $8 billion Yale Endowment.

Kingโ€™s company applied for the loan guarantee under an โ€˜innovative technologyโ€™ grant. The report shows that Kingโ€™s technology was not, in fact, innovative- it has been widely used commercially before the Record Hill project.

King’s campaign claims the candidate knew nothing about the congressional investigation, despite a letter from the committee to King’s business partner six days before the report went public.

Below is the letter from Pingree to Jonathan Silver, the Executive Director of the Department of Energyโ€™s Loan Programs Office. According to the Department of Energy, Pingree was the only member of Maine’s delegation to send a letter of support.

Dear Mr. Silver:

I am pleased to write in support of Record Hill Windโ€™s grant application to DOEโ€™s Innovative Technology Federal Loan Guarantee Program, reference number DE-FOA-0000140.

Record Hillโ€™s Roxbury, Maine project has received all necessary local and state permits. The project will create a new source of renewable energy and provide for hundreds of good paying construction jobs. Maine needs more such renewable energy projects that can help reduce our reliance on fuels from other nations, and this clean energy project will significantly reduce carbon emissions to help reach state objectives to reduce GHG emissions as well.

I urge the Department of Energy to look favorably on this request.

Sincerely,

Chellie Pingree
Member of Congres [sic]

Record Hill_Pingree Letter

Angus King Chellie Pingree
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Steve Robinson is the Editor-in-Chief of The Maine Wire. โ€ชHe can be reached by email at [email protected].

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