Community Wind Loan Program
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Community Wind Loan Program|
|Incentive Type||State Loan Program|
|Applicable Sector||Commercial, Nonprofit|
|Incentive Inactive Date||2013-02-06|
|Energy Category||Renewable Energy Incentive Programs|
|Maximum Incentive|| $25,000|
$7,500 for projects less than 2 MW nameplate capacity
|Terms|| Borrower must match loan amount|
1% interest rate
|Program Administrator||Arrowhead Regional Development Commission|
|References||Database of State Incentives for Renewables and Efficiency|
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:
- Early stage project feasibility study expenses
- Preliminary wind resource assessments
- Meteorological data analysis and/or related equipment costs
- Environmental, engineering, and geotechnical analysis/consulting
- Accounting, finance, and other professional services consulting
Interested parties should sent a letter of interest describing the project to Bonnie Hundrieser (contact information listed below).
|Contact Name||Bonnie Hundrieser|
|Department||Arrowhead Regional Development Commission|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.