The Iowa Energy Center (IEC) Board and the Iowa Economic Development Authority (IEDA) have opened the first application window for a new supportive energy program, the Energy Infrastructure Revolving Loan Program (EIRLP).
The EIRLP will provide 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
“Iowa is an energy powerhouse, and it’s critical that we maintain our leadership position by supporting transformational, innovative projects,” said Debi Durham, director of the IEDA and the Iowa Finance Authority in a statement. “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 application deadline is October 22, 2021.