The purpose of the Rural Wind Energy Revolving Loan is to assist the funding of wind energy feasibility and transmission interconnection studies for community-based energy developments (C-BEDs). The program will be administered by the Minnesota Department of Commerce Office of Energy Security (OES) in cooperation with the Southwest Initiative Foundation. It will provide loans of up to $100,000 per project with an annual interest rate of 1.5%. Loans must be paid back within 30 days of a project beginning commercial operation or within two years of the date the loan is issued, whichever is sooner. To be eligible for a loan, a project must be owned and structured according to C-BED criteria defined by Minn. Stat. Â§ 216B.1612 and amended by 2007 S.F. 145, Article 4. These criteria are summarized below.
|Incentive Type:||Loan Program|
|Administrator:||Minnesota Department of Commerce|
|Eligible Renewable/Other Technologies:||
|Maximum Loan:||$100,000 for any single project or entity|
Annual interest rate of 1.5%;
Repayment must be made within 30 days of project operation or two years of the date the loan is issued, whichever is sooner.
|Name:||S.F. 2096 Article 2, Section 28|
|Name:||Minn. Stat. Â§ 216B.1612|
|Name:||S.F. 145, Article 4|
|Name:||Wind Loan Program|
|Organization:||Southwest Initiative Foundation|
15 3rd Avenue NW
Hutchinson MN 55350
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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