RE Financing Program in California

The California Power Authority (CPA) is inviting manufacturers to participate in its new energy-financing program. The CPA has US$30 million of tax exempt Industrial Development Bonds that will provide below-market rate loans to manufacturing companies producing or choosing to install clean energy solutions in California.

SACRAMENTO, California 2002-03-29 [SolarAccess.com] In February, the California Debt Limit Allocation Commission (CDLAC) awarded the CPA US$30 million in tax-exempt bonding authorization to administer through the Energy Financing Industrial Development Bond Program. The program enables private companies to apply for low cost loans that could be used for increasing production size or purchasing and installing clean energy equipment. “The CPA is enthusiastic about the opportunity this program offers for small manufacturers to install or produce clean energy technologies and be more competitive in the market,” said Laura Doll, CEO of the California Power Authority. “The low cost loans are a great incentive for businesses to manufacture and keep their business in California.” Manufacturers can participate in either of two ways: purchase and install Renewable Energy systems, energy-efficiency equipment, or clean distributed generation or use the financing to establish or expand the production of clean energy systems and components. The CPA will implement the program and select eligible applicants, consistent with CDLAC procedures and other state and federal requirements.

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