Loans for Community-Based Wind Projects in Northeastern Minnesota
2009: Duluth, MN - The Arrowhead Regional Development Commission (ARDC) and the Northland Foundation have partnered to provide a revolving loan fund that will provide early-stage project development and feasibility analysis for community-based wind energy projects. The revolving loan fund will be available in Aitkin, Carlton, Cook, Itasca, Koochiching, Lake and St. Louis counties.
The revolving loan fund is part of the Rural Energy Development Initiative (REDI), a state-wide program addressing community-based wind energy development. REDI loan financing is limited to early stage project development and feasibility analysis for wind energy electric generation projects that intend to sell the electricity to an electric utility. Maximum loan size is $25,000 for any one project and/or borrower. ARDC functions as the regional REDI organizer for northeast Minnesota. The Northland Foundation is the acting loan partner for the revolving loan fund.
For more information regarding the revolving loan fund and/or the application for the loan fund, please see the website or contact Bonnie Hundrieser (ARDC) at 218-529-7527 or [email protected].