Iowa Energy Center Launches Energy Infrastructure Revolving Loan Program
For more information contact:
Kanan Kappelman, Iowa Economic Development Authority
Phone: 515.348.6248
Email: communications@iowaeda.com
Iowa Energy Center Launches Energy Infrastructure Revolving Loan Program
October 1, 2021 (DES MOINES) - 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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