Power Project Loan Fund
Administered by Alaska Industrial Development and Export Authority
This program is not available to individual homeowners; it serves only electric utilities, municipalities, and power producers developing renewable energy or conservation facilities under 10 megawatts.
This program is not designed for individual contractors. If your company operates as a utility or independent power producer, you may qualify to borrow for renewable energy or energy conservation projects, with loan terms up to 50 years and interest rates set at the lesser of municipal bond yields or a rate determined by the Alaska Energy Authority to ensure financial feasibility.
The Alaska Energy Authority administers loans for renewable energy, conservation, and bulk fuel storage projects under 10 MW developed by utilities, municipalities, villages, and independent power producers. Loan terms match project life (max 50 years); interest rates are the lower of 12-month average municipal bond yields or an AEA-determined rate. Application fees range from $200 (projects ≤$100,000) to $5,000 (projects >$1 million), and requests exceeding $5 million require legislative approval. Eligible technologies include solar, wind, hydroelectric, geothermal, biomass, and tidal.
Program details
- Program ID
- 115
- Last updated
- 10/9/2024
Eligibility
- Sectors
- local government municipal utilities cooperative utilities
- Technologies
- solar water heat solar space heat solar thermal electric solar photovoltaics wind (all) hydroelectric municipal solid waste combined heat & power wind (small) hydroelectric (small) custom/others pending approval
Program summary
The loan term is related to the life of the project, but may not exceed 50 years. Interest rates are the lesser of the average weekly yield of municipal bonds for the 12 months preceding the date of loan, or a rate the Alaska Energy Authority determines will allow the project to be financially feasible. Maximum loan amounts may be determined by available funds in the program, and loan requests over $5 million require legislative approval. Application fees, effective April 2015, are based on the loan amount requested, and vary from $200 for projects up to $100,000 to $5,000 for projects over $1 million.
Contact the Alaska Energy Authority for more details and current restrictions on maximum loan amounts.
Contact & resources
- Contact email
- clister@aidea.org
- Additional resources
Please verify current program details with the administering agency before making any financial decisions.
