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Posted By IAMU,
Wednesday, March 2, 2022
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The Iowa Economic Development Authority will be presenting a webinar hosted by IAMU regarding utility infrastructure financing opportunities through their office and the Energy Infrastructure Revolving Loan Program (EIRLP). IEDA provided a brief overview of the EIRLP during their presentation at the IAMU Energy Conference on February 22. This webinar will take a closer look at eligibility, potential projects related to electricity or gas, and the application process. Municipal electric and gas utilities, as well as public water and/or wastewater utilities, are eligible to apply for the program. IEDA will also provide a very high-level review a few of the federal programs created and/or funded through the Infrastructure Investment and Jobs Act (IIJA) that may be of interest to municipal electric and gas utilities and potentially result in the ability to cover up front project costs through a combination of a grant and EIRLP loan. Presented by Stephanie Weisenbach of the Iowa Energy Office/IEDA Date: Tuesday, March 15
Time: 11:00 am – 12:00 pm Link to join/register:
https://us06web.zoom.us/meeting/register/tZIpdOitrzItE9LHLzZviI9NdFiK6WSSI1mi
Tags:
EIRLP
Energy Services
IEDA
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Posted By IAMU,
Tuesday, January 25, 2022
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It’s no surprise that inflation is on the rise, and interest rates are going up for cars, homes, and anything that can be financed. Despite high interest rates, The Iowa Economic Development Authority are offering incredibly low interest rates as part of the Iowa Energy Center Energy Infrastructure Revolving Loan Program (EIRLP) The Energy Infrastructure Revolving Loan Program (EIRLP) opened for applications in October 2021, replacing a previous energy loan program. The EIRLP provides low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage or distribution. It is administered by the Iowa Economic Development Authority (IEDA) with oversight from the Iowa Energy Center (IEC) Board, which makes loan decisions once per quarter. - Loan Amounts:
- Minimum: $50,000
- Maximum: $2,500,000
- Can cover up to 75% of project costs
- Loan Terms: 5-10 years for most projects
- (IEC Board may approve up to 15 years)
- Interest Rate: 2% for most projects
More Information about this program can be found at: https://www.iowaeda.com/iowa-energy-office/energy-loans/ For more information, Contact Stephanie Weisenbach, stephanie.weisenbach@iowaeda.com, 515.348.6221
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EIRLP
Energy Services
IEC
IEDA
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Posted By IAMU,
Monday, October 4, 2021
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The Iowa Energy Center (IEC) Board and the Iowa Economic Development Authority (IEDA) announced that the first application window for a new supportive energy program, the Energy Infrastructure Revolving Loan Program (EIRLP), will open today.
Applications for this loan funding round will be accepted online via iowagrants.gov from October 1 to October 22, 2021.
The EIRLP provides low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage or distribution. The purpose of the program is to support: - Energy infrastructure development
- Electric grid modernization
- Energy-sector workforce development
- Emergency preparedness for rural and underserved areas
- Expansion of biomass, biogas and renewable natural gas
- Innovative technologies
- Development of infrastructure for alternative fuel vehicles
A business, rural electric cooperative or municipal utility located and operating in Iowa is eligible for financial assistance via this program. “Iowa is an energy powerhouse, and it’s critical that we maintain our leadership position by supporting transformational, innovative projects,” said Debi Durham, executive director of the Iowa Economic Development Authority and the Iowa Finance Authority. “The launch of the loan program is another great example of the Iowa Energy Center Board, with approval from the Iowa Legislature, developing a financial resource that allows Iowa to be both responsive to current energy needs and to take advantage of future opportunities.”
The EIRLP Policies and Procedures Handbook and loan application deadlines are available online at iowaeda.com/iowa-energy-office/energy-loans/.
For additional program information, please contact Stephanie Weisenbach at 515.348.6221 or email stephanie.weisenbach@iowaeda.com.
Tags:
EIRLP
Energy
IEDA
Iowa Energy Center
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Posted By IAMU,
Monday, June 14, 2021
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The Iowa Economic Development Authority’s (IEDA) Iowa Energy Office is seeking your input as we develop the requirements and framework for a new energy program, the Energy Infrastructure Revolving Loan Program (EIRLP). Our previous energy loan program, the Alternate Energy Revolving Loan Program (AERLP), was discontinued in the 2021 Iowa Legislative session by Division XII of 2021 Iowa Acts, Senate File 619. If enacted, the changes go into effect July 1, 2021. The legislation replaces the program with the EIRLP for projects that include land, buildings, physical plant and equipment, and services directly related to the development of projects used for, or useful for, electricity or gas generation, transmission, storage, or distribution.
The EIRLP broadens the projects and borrowers that were previously eligible for assistance and emphasizes the mission of the Iowa Energy Center and the outcomes sought from the projects. A few highlights include: - In addition to Iowa businesses and individuals, municipal utilities and rural electric cooperatives are eligible borrowers.
- Unlike the AERLP, the EIRLP does not specify zero interest on the loans, which would allow interest to be charged.
- Eligible projects could include support of electric or gas generation, transmission, storage, or distribution; electric grid modernization; energy sector workforce development; emergency preparedness for rural and underserved areas; expansion of biomass, biogas, and renewable natural gas; innovative technologies; and the development of infrastructure for alternative fuel vehicles.
Your expertise is uniquely valuable as we formulate administrative rules, policies and procedures. The Iowa Energy Center Board seeks to support impactful projects developed by borrowers that are well-positioned for implementation and loan repayment. We created a survey for stakeholders to provide input on how the loan program can best meet the demand for energy infrastructure opportunities in Iowa. Please complete the following survey by 5:00 p.m. on Wednesday, June 23, 2021.  We look forward to your feedback on the framework that will help achieve the program’s goals. The details of the new program, including when applications may be submitted, will be updated on IEDA’s website as they become available.
Tags:
EIRLP
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Iowa Energy Center
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