Description

The Massachusetts Technology Collaborative (MTC), as administrator of the Renewable Energy Trust (RET) Fund, is seeking applications from organizations that are interested in developing grid-connected electric Generating Facilities of 500 kW or greater in New England that employ renewable energy technologies. Funding is available for feasibility studies or pre-development activities only. Construction financing is not available under this Solicitation. Eligible Applicants must be either a legally registered entity (e.g., a corporation, partnership, limited liability company or other business organization), or a public instrumentality, including federal, state and local governments. Under this Solicitation, MTC intends to support applicants who would otherwise be unable to undertake their proposed feasibility or pre-development activities were it not for this funding.

The activities funded by MTC, the funding mechanism, and the level of funding vary according to the type of Applicant and Project (as defined in Section 2). Grant funding is available to
eligible Public Instrumentalities for feasibility studies. Unsecured loans with commercially reasonable interest rates are available to all eligible Applicants for pre-development activities.
Feasibility study funding is limited to $50,000 per project. Pre-development funding is limited to $250,000 for wind projects and $150,000 for all other projects. No MTC funds may be used
to reimburse or write down costs incurred prior to the execution of a Project Grant Agreement or P ject Loan Agreement (co ro llectively, the “Agreement”) between MTC and the Awardee.
A total of $2,000,000 is available for project funding under this Solicitation with $250,000 reserved for feasibility studies.

Applications will be accepted beginning October 10, 2003. Thereafter, applications will be accepted on a rolling basis. The Solicitation will remain open until all funds are fully allocated.