Community Wind Loan Program

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Minnesota

Name Community Wind Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Nonprofit
Eligible Technologies Wind
Active Incentive No
Incentive Inactive Date 2013-02-06
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs








Start Date 2009







Maximum Incentive $25,000

$7,500 for projects less than 2 MW nameplate capacity










Terms Borrower must match loan amount

1% interest rate
Loan maturity limited to 48 months
Repayment may be deferred until maturity, but annual payment of accrued interest is required

Program Administrator Arrowhead Regional Development Commission
Website http://www.arrowheadplanning.org/Default.asp?PageID=569

Last DSIRE Review 2013-02-06



References Database of State Incentives for Renewables and Efficiency[1]


Summary

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).


Incentive Contact

Contact Name Bonnie Hundrieser
Department Arrowhead Regional Development Commission





Phone (218) 529-7527


Email bhundrieser@ardc.org

     
     


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"