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Businessman plans to construct solar farm
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Posted on Sep 14 2011
A businessman is applying for a loan guarantee with the Commonwealth Development Authority to support his alternative energy project.
Erik Van Der Maas, who owns the Marianas Business Plaza in Susupe, attended the CDA board meeting yesterday to present his solar farm project.
Van Der Maas revealed his plans to construct a solar farm on the parking lot of the Marianas Business Plaza.
He said the project involves the construction of steel structure to house 2,100 solar panels that would produce about 90,000 kilowatts.
According to Van Der Maas, the technology is being utilized in various countries, including New Zealand, Italy, and even Palau.
“CUC is all in support of it because it’s alternative power,” Van Der Maas told the CDA board of directors.
According to Van Der Maas, the project will cost roughly $1.5 million and will bring about an income of $40,000.
“I’m applying for a loan with a major bank,” said Van Der Maas. “CDA, through its new program with MPLT and the governor’s office, will help with the loan guarantee to that bank.
Oscar Camacho, CDA loan manager, said Van Der Maas wants to avail of loan guarantee through the State Small Business Credit Initiative.
Created under the Small Business Jobs Act of 2010, SSBCI was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers in states and territories across the nation.
SSBCI will allow states to build on successful models for state small business programs, including collateral support programs, Capital Access Programs, and loan guarantee programs.
“Erik has been very diligent in following up on progress with the SSBCI application,” added Camacho.
