US plugs 3 billion dollars into renewable energy

Business News

Jul 9, 2009, 16:58 GMT

Washington - The US government will make 3 billion dollars available to renewable energy companies as part of an effort to pull the country out of an ongoing recession, officials said Thursday. The new initiative would fund about 5,000 solar, wind, bio-mass and other green projects around the country, the US Treasury and Energy Department said in a joint statement. The money comes out of the 787-billion-dollar economic stimulus package approved by the US Congress in February. About 39 billion dollars from the package has been allocated to the Energy Department.

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