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).
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Minnesota |
| Incentive Type: | Loan Program |
| Web Site: | http://www.arrowheadplanning.org/Default.asp?PageID=569 |
| Administrator: | Arrowhead Regional Development Commission |
| Start Date: | 2009 |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: |
$25,000 $7,500 for projects less than 2 MW nameplate capacity |
| Loan Term: |
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 |
| Name: | Bonnie Hundrieser |
| Address: |
|
| Phone: | (218) 529-7527 |
| Email: | bhundrieser@ardc.org |
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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