The Arrowhead Regional Development Commission (ARDC) and the Northland Foundation have partnered to offer a revolving loan program for the development of community-based wind in the Arrowhead region of Minnesota. The program is part of the Rural Energy Development Initiative, which is sponsored by the State of Minnesota. Projects must be located in the Northeast counties of Minnesota, including Koochiching, Itasca, Aitkin, Carlton, St. Louis, Lake, and Cook counties.
Loan financing is limited to early stage project development and feasibility analysis for wind projects that intend to sell electricity to an electric utility. Eligible costs include:
Interested parties should sent a letter of interest describing the project to Bonnie Hundrieser (contact information listed below).
|Incentive Type:||Loan Program|
|Administrator:||Arrowhead Regional Development Commission|
|Eligible Renewable/Other Technologies:||
$7,500 for projects less than 2 MW nameplate capacity
Borrower must match loan amount
1% interest rate
Loan maturity limited to 48 months
Repayment may be deferred until maturity, but annual payment of accrued interest is required
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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