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Helix Wind to apply for DOE loans
Daily Blog//December 28, 2009//
Helix Wind next year expects to submit an application to the Department of Energy for two separate loan guarantees totaling $10 million to aid their purchase of Newberg‘s Abundant Renewable Energy, according to Terrence Murray of .
Helix CEO Ian Gardner plans to use the guarantees to buy small turbine distributor Abundant Renewable Energy, as well as German wind power system company Venco Power.
The San Diego-based wind turbine company first announced its potential purchase of ARE in September. If the deal were to go through, Helix would move its research and development, engineering, and testing departments to a location between Newberg and Portland, and keep its corporate, finance and human resource departments in San Diego. The Newberg facility, which currently has nine employees, would remain in operation.
Deadlines to submit DOE loan-guarantee applications are Feb. 18, 2010, April 22 and June 24.
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