CEC announces clean energy business financing program

By CMTA Staff

Capitol Update, March 19, 2010 Share this on FacebookTweet thisEmail this to a friend

The California Energy Commission (CEC) approved an agreement with the California Business, Transportation, and Housing Agency (BT&H) that will soon make more than $30 million available to eligible California manufacturing businesses. Under the Clean Energy Business Financing Program (CEBFP) manufacturers will have the opportunity to apply for low-interest loans using American Recovery and Reinvestment Act (Recovery Act), State Energy Program (SEP) funds to help broaden the state manufacturing base, strengthen California leader in using clean energy systems.

"With California having endured such a long and difficult erosion of manufacturing business," said Energy Commission Chairman Karen Douglas, "we are excited to extend this loan opportunity to eligible private sector businesses that can create and/or retain California jobs in clean energy technologies. This program will leverage private capital with state and federal funding to maximize benefits for Golden State businesses."

The program is open to California businesses that want to expand, diversify or retool existing facilities to manufacture eligible energy efficiency or renewable energy products, components, systems, and technologies. Facilities that produce biomethane gas from biomass suitable for pipeline injection are also eligible. Loans to qualifying applicants will be a minimum of $50,000 to a maximum of $5,000,000.

The CEBFP applications will become available March 29, 2010 at: www.energy.ca.gov/recovery/cleanenergy.html.

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