Monster Auto Corp., dba AutoSpot Guam, and TeleGuam Holdings, LLC, dba GTA, recently received approvals for the USDA’s Rural Energy for America Program, which would provide funding for the respective entities to invest in energy efficiency.

Monster Auto Corp. was awarded $1,000,000, and TeleGuam Holdings, LLC, was awarded $795,000.

Both intend to invest the funds in purchasing and installing solar energy systems, resulting in substantial savings for the entities in their electrical bills. Both grants require a borrower contribution.

“It is great to see local entities secure funds from these federal programs, which would, in turn, help their businesses experience savings in their operations. The REAP program is a great opportunity to invest in energy-efficient resources. While the entity would still have to fund a share of the total investment, the program reduces the overall costs of that investment,” said Moylan.