Descripción

Note: As of June 2008 the grant program was closed to new proposals. For information on future funding opportunities please consult the program website or contact program personnel.

The West Penn Power Sustainable Energy Fund (WPPSEF) promotes the use of renewable energy and clean energy among commercial, industrial, institutional and residential customers in the West Penn market region. Eligible projects include energy produced from solar, wind, low-impact hydro, and sustainable biomass such as closed-loop biomass and biomass gasification. Clean energy refers to advanced technologies, including landfill gas and fuel cells, which use fossil fuels but have significantly lower emissions and waste than current commercialized technologies and fuels derived from waste.

Funding for eligible projects may include grants, commercial loans, equity investment, subordinated debt and royalty financing. Grants are available to non-profit companies and community-based organizations. The grant application and detailed information is available at the website above. Many of these grants will be leveraged with other grants from foundations and other funding agencies, and will lead to additional financing requests involving other WPPSEF products. Some of the potential uses of WPPSEF grants may include:

• Demonstration projects and technologies incorporating renewable or energy efficiency products and services,
• Engaging national programs. WPPSEF grants should be highly leveraged whenever possible,
• Consumer education on renewable energy and energy conservation and efficiency.
• Policy development. Specific policy research and initiatives that open markets for companies that become WPPSEF financing prospects could be supported.

Commercial loans are available to manufacturers, distributors, retailers and service companies involved in renewable and advanced clean energy technologies, as well as energy efficiency and conservation products and services to end-user companies and community-based organizations. WPPSEF intends to initiate loan programs in conjunction with other agencies and intermediaries to ensure an adequate flow of financing proposals for consideration.

WPPSEF will seek out proposals that may not be currently bankable but are acceptable credit risks. For small business lending, the ability to repay a business loan is based primarily on operating cash flow. Also, commercial lending is based on the management experience, ability and character of the management team. WPPSEF will offer term loans to finance energy-efficient equipment, construction, and provide working capital financing as part of a larger request. WPPSEF would charge a below market rate of interest, and secure the loans with available collateral. The funding application can be downloaded from the website by following this link: Investment Application Form