WSIL-TV 3 ABC
Top Stories
Last updated 11:43 am CT September 02, 2010.
Financing Clean Energy
In the next few years it's likely Illinois will see more wind turbines, more coal mines and clean coal efforts, and more farmers growing soy beans and corn.
The Illinois Finance Authority is a state authority that issues affordable bonds and loans to help promote such commerce. Director, John Filan, says Illinois stands to play a central role in the nation's move toward energy independence.
"Our coal resources are number one in this country and competitive with the entire world in terms of potential energy resources."
Illinois is also the number one exporter of soy beans, number 2 for corn. And Filan says, that puts the state in a powerful position...
"Illinois has an enormous opportunity to develop energy projects and real high paying permanent jobs in this part of the state."
But, first on the agenda, Filan says, is research; figuring out what will work to help speed programs along, instead of slowing them down.
"The role SIU plays, as an example, is to help us determine: Are these really commercially feasible and technically feasible? Can this coal project work, or will it not work because there are environmental issues? And the sooner we find that out, the sooner we can try to resolve the problem."
Filan says, once those problems are solved, the finance authority will coordinate federal, state and private funding to make it happen.
"Guaranteed financing, along with federal financing, to bring these projects throughout the state and Southern Illinois is a very major part of that effort."
Filan says the finance authority supports the FutureGen clean coal project in Mattoon and has guaranteed a $50-million loan to help build the plant.
By: Rachel Gartner
rgartner@wsiltv.com
Now: 1283451111
