Energy Loans Available – Applications Due July 14
The Iowa Energy Center (IEC) is accepting applications for the Energy Infrastructure Revolving Loan Program (EIRLP). The application is available at IowaGrants.gov under Loan Opportunities and is due on Thursday, July 14, 2022.
The EIRLP provides low-interest loans to eligible borrowers for energy infrastructure projects related to electricity or natural gas. The purpose of the program includes, but is not limited to, electric grid modernization, emergency preparedness/resilience, expansion of biogas, innovative technologies, and infrastructure for alternative fuel vehicles.
The EIRLP can improve the feasibility of energy projects for businesses, rural electric cooperatives, and municipal utilities including water and wastewater utilities. Loan amounts may range from $50,000 to $2.5 million and may cover up to 75% of project costs. The IEC Board will make funding decisions at least once per quarter and loans will be administered by the Iowa Economic Development Authority (IEDA). The IEC Board’s next quarterly meeting is on August 11, 2022.
The IEC is overseen by a governor-appointed board composed of representatives from academia, state government and utilities.
Interested applicants must be registered for an IowaGrants.gov account to complete the application. Additional information about the program can be found on IEDA’s EIRLP webpage. Examples of projects that fulfill the program purpose can be found in the program handbook under Resources. Questions about the program and potential project types should be directed to email@example.com.
A webinar will be held on Monday, June 27 at 1:00 p.m. and will cover the program rules, procedures and application. The webinar will be held using Microsoft Teams and registration is available at https://akaiowa.us/energyloanswebinar.
The webinar will be recorded.