Descripción

The Arrowhead Regional Development Commission (ARDC) and the Northland Foundation have partnered to offer a revolving loan program for the development of community-based wind in the Arrowhead region of Minnesota. The program is part of the Rural Energy Development Initiative, which is sponsored by the State of Minnesota. Projects must be located in the Northeast counties of Minnesota, including Koochiching, Itasca, Aitkin, Carlton, St. Louis, Lake, and Cook counties.

Loan financing is limited to early stage project development and feasibility analysis for wind projects that intend to sell electricity to an electric utility. Eligible costs include:

• Early stage project feasibility study expenses
• Preliminary wind resource assessments
• Meteorological data analysis and/or related equipment costs
• Environmental, engineering, and geotechnical analysis/consulting
• Accounting, finance, and other professional services consulting

Interested parties should sent a letter of interest describing the project to Bonnie Hundrieser (contact information listed below).