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Posted By IAMU,
Wednesday, September 14, 2022
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IAMU is working closely with the officials at the Iowa Economic Development Authority (IEDA) on developing what will become the Iowa Grid Resilience Fund. IAMU has had initial discussion with members about this program, and it seems that there will be a high amount of interest in this program. To learn more about the program, please see a short summary created by IEDA. Some recent updates to this program: - At the very earliest, the application window will open for this grant by Early Q2, 2023
- There will likely be a cap on each grant award. It’s possible this cap is in the neighborhood of $590,000
- They will likely fund 10 projects per year, for 5 years, so this program will be competitive
- Helping underserved areas, or contributing to workforce development will be highly weighted in the selection process
- IEDA will likely make their grant scoring matrix public
- It’s possible that starting a project before the grant window is open would disqualify the project
If you are considering a project for this program, or have questions, please check in with Jeff Gorrie: jgorrie@iamu.org. The goal of this U.S. Department of Energy (DOE) formula grant program, part of the Infrastructure Investment and Jobs Act, is to support the efforts of States and Indian Tribes to improve the all-hazards resilience of the electric grid and prevent outages. These grants offer a unique opportunity to advance the capabilities of States and Indian Tribes, and their communities, to address not only current, but future resilience. The State of Iowa is slated to receive an annual allocation of $5,917,777 each year for five years, a portion of which must be set aside for small utilities.
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Energy Services
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Posted By IAMU,
Tuesday, March 8, 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
Click Here to register.
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Energy Services
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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
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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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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.
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EIRLP
Energy
IEDA
Iowa Energy Center
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