August 16, 2002—The California Power Authority (CPA) is inviting manufacturers to participate in its new energy-financing program. For its first round announced in March 2002, the CPA had $30 million of tax exempt Industrial Development Bonds that provide below-market rate loans to manufacturing companies producing or choosing to install clean energy solutions in California. For its second round, the CPA expects to have between $3-$8 million or more.
Second round applications must be submitted on or before August 23 to ensure CPA Board action and bond issuance by November. During this second round, any denied first-round applicants can choose to strengthen their proposals for possible reconsideration. All bonds must be issued individually on a project basis in the name of the applicant, and must be issued by November 15, 2002.
Manufacturers can participate in either of two ways: 1) purchase and install renewable energy systems, energy-efficiency equipment, or clean distributed generation; or 2) use the financing to establish or expand the production of clean energy systems and components.
For more information, including application forms and eligibility requirements, contact CPA.
