Energy & Environment

 

Energy & Environment

NVDA Energy/Business Project Resources

Vermont Department of Public Service:

Vermont Clean Energy Development Fund (CEDF)

Next RFP round – February 2010/August 2010 (2 rounds/year & decisions are made within a month).

Pre-Project Financial Assistance Category

Grant $100,000 maximum

Requests up to $25,000 20% cash match

$25,001 up to $100,000 50% match (no more than 25% can be in-kind)

This category includes feasibility studies and pre-development activities to develop new renewable energy generation facilities that will be over 15 kW in AC rated capacity (including thermal), which may require high-risk, early-stage activities and for those projects that do not have the resources to finance pre-project activities. Projects under this category may include: renewable energy resource assessments; site assessments; environmental impact and regulatory analysis; permitting; technical and engineering feasibility studies; engineering designs; and economic and financial feasibility studies. Other similar projects not specifically listed above will also be considered.

Small-scale Systems Category

Grant $50,000

75% cash match

This category includes renewable energy projects with no more than 15 kW in AC rated capacity. This category covers residential & business-scale installations. All projects must generate electricity and be grid-connected (See attached RFP for more details).

Large-scale Systems Category

Grant $250,000 maximum

50% match (no more than 25% can be in-kind)

This category includes renewable energy projects greater than 15 kW in AC rated capacity. This category covers utility-scale installations. All projects must generate electricity and be grid-connected (See attached RFP for more details).

*10% may be used for Pre-Project Financial Assistance Activities

Loan Program $250,000 maximum

The loan program will fund purchase of land and buildings, purchasing and installing machinery and equipment and working capital. Engineering and research also allowed to an extent. See attached brochure for rates/terms

*USDA may be a better loan offer, but the upfront requirements are more involved.

For more details contact:

Andrew Pechlik, CEDF Director

Phone: (802) 828-4017

andrew.perchlik(Replace this parenthesis with the @ sign)state.vt.us

USDA –Rural Development Program 9007:

Renewable Energy for America (REAP)

Will start accepting applications October 1st (1 round annually – timeline unknown)

Grant 25% of Total Project Costs ($500,000 max)

Loan Guarantee 75% of Total Project Costs ($10 Million max)

Combo (Grant + Loan Guarantee) Same parameters as above.

Grant + Loan Guarantee application will be evaluated locally and then by the National Office (Washington, D.C.). The timeline for approval is unknown at this point. Loan Guarantee can work with existing Economic Development Agencies that offer low-interest loans or private banks (such as VEDA 2% loans).

Program pays for such things as: purchase and installation of equipment, construction or site improvements, permit and license fees, construction of new energy efficient facilities, working capital and land acquisition.

Upfront feasibility work required, must include such things as management, technical, financial, building costs, site specific, environmental review, etc. Application requirements are tailored specifically to the project/applicant; call Donna Montgomery for an intake survey and the specific application elements your project will require.

For more details contact:

Cheryl Ducharme, Renewable Energy Coordinator

USDA Rural Development – Montpelier Office (802) 828-6083

Donna Montgomery – Intake Survey (802) 828-6031

*Applicant’s Lender should call Kevin Morehouse, Business Program Guarantee Specialist at (802) 828-6002 for guidance.

USDA –Rural Development Program:

Business & Industry Guaranteed Loan Program (B&I)

Applications may be rolling. Check with contact.

Loan Guarantee 75% of Total Project Costs ($10 Million max)

Loan Guarantee application will be evaluated locally and then by the National Office (Washington, D.C.). The timeline for approval is unknown at this point. Loan Guarantee can work with existing Economic Development Agencies that offer low-interest loans or private banks (such as VEDA 2% loans).

Program pays for such things as: purchase and installation of equipment, construction or site improvements, permit and license fees, building modernization, working capital and land acquisition (See B&I vs. REAP comparison chart for details)

For more details contact:

Cheryl Ducharme

USDA Rural Development – Montpelier Office (802) 828-6083

*Applicant’s Lender should call Kevin Morehouse, Business Program Guarantee Specialist at (802) 828-6002 for guidance.

Vermont Agency of Commerce and Community Development

Vermont Community Development Program (VCDP) – Planning Grant

3 cycles per year – Applications due in March, July & November.

Grant $3,000 – $30,000

25% match (cash or in-kind)

VCDP provides funding for planning activities and/or pre-development activities in preparation for implementing a project in economic development. Grant funds cover technical expertise and professional resources needed to test ideas, propose strategies, develop plans, establish policies and procedures, and conduct organizational activities.

Applications are prepared by the municipality and funds are awarded to the municipality, which in turn sub-grants the funds to the business.

VCDP – Implementation Grant (really a loan) – Same Application cycles as above.

Loan $40,000 per job created (maximum $1 Mill)

If project is not in an area that meets Area Benefit Criteria, the project will have to show that 51% of the jobs created would be provided to low-income persons.

Applications are prepared by the municipality and funds are awarded to the municipality, which in turn loans the funds to the for-profit business. Loan terms vary depending on the project but generally have below market interest rates.

Contact:

Beth Boutin, Vermont Community Development Specialist

Agency of Commerce and Community Development

(802) 828-2998

Beth.Boutin(Replace this parenthesis with the @ sign)state.vt.us

USDA –Rural Development:

Rural Business Enterprise Grant (RBEG)

Grants are made Annually, Applications typically accepted in February-March.

Grant $50,000

Match requirement, but not set. As the % of match provided to grant funds requested increases, so does grant scoring.

RBEG provides funds for technical assistance/business planning projects that will result in economic development for small and rural businesses that employ fewer than 50 employees and gross less than $1 million in revenue annually.

The application selection process is competitive and grants are awarded based on the scoring of evaluation criteria. Eligible entities are public bodies and non-profit organizations. In the past, NVDA has applied on behalf of businesses.

Contact:

Steven Campbell

USDA Rural Development

St Johnsbury Office (802) 748-8746

Publications

NVDA Energy Resource List

 Posted by at 7:18 pm