Green Power Predevelopment Financing Grant (Massachusetts)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Green Power Predevelopment Financing Grant|
|Incentive Type||State Grant Program|
|Applicable Sector||Commercial, Local Government, State Government, Fed. Government|
|Maximum Incentive||50,000 for feasibility studies; 250,000 wind pre-development funding; 150,000 for other pre-development funding|
|Program Administrator||Massachusetts Technology Collaborative|
The Massachusetts Technology Collaborative (MTC), as administrator of the Renewable Energy Trust (RET) Fund, is seeking applications from organizations that are interested in developing grid-connected electric Generating Facilities of 500 kW or greater in New England that employ renewable energy technologies. Funding is available for feasibility studies or pre-development activities only. Construction financing is not available under this Solicitation. Eligible Applicants must be either a legally registered entity (e.g., a corporation, partnership, limited liability company or other business organization), or a public instrumentality, including federal, state and local governments. Under this Solicitation, MTC intends to support applicants who would otherwise be unable to undertake their proposed feasibility or pre-development activities were it not for this funding.
The activities funded by MTC, the funding mechanism, and the level of funding vary according to the type of Applicant and Project (as defined in Section 2). Grant funding is available to eligible Public Instrumentalities for feasibility studies. Unsecured loans with commercially reasonable interest rates are available to all eligible Applicants for pre-development activities. Feasibility study funding is limited to $50,000 per project. Pre-development funding is limited to $250,000 for wind projects and $150,000 for all other projects. No MTC funds may be used to reimburse or write down costs incurred prior to the execution of a Project Grant Agreement or P ject Loan Agreement (co ro llectively, the “Agreement”) between MTC and the Awardee. A total of $2,000,000 is available for project funding under this Solicitation with $250,000 reserved for feasibility studies.
Applications will be accepted beginning October 10, 2003. Thereafter, applications will be accepted on a rolling basis. The Solicitation will remain open until all funds are fully allocated.
|Contact Name||Jim Christo|
|Department||Massachusetts Technology Collaborative|
|Division||Renewable Energy Trust|
|Address||75 North Drive|
|Phone||(508) 870-0312 Ext:263|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.