The Louisiana Department of Natural Resources (LDNR) recently announced that they are now accepting energy efficiency loan applications from interested parties. The anticipated funding for this project is approximately $3,000,000 to be available for loan applicants that receive approval.
The parties eligible include: governmental entities, non-profit organizations, privately held commercial, industrial or publicly held entities (located in the State) for the “Louisiana Revolving Loan Fund Program.” Organizations that are approved for the loan will be eligible for a fixed interest rate of 2% not to exceed a term of ten years.
The purpose of the LDNR’s program is to encourage the development, implementation and deployment of cost-effective energy efficiency, compressed natural gas refueling and vehicle, and renewable energy projects in Louisiana, and to support the creation of additional employment opportunities and other economic development benefits.
The “Louisiana Revolving Loan Fund Program” will give preference to CNG refueling systems and vehicle conversions to be located in areas of the state without adequate NGV refueling infrastructure, and projects initiated by local, parish, or state governmental subdivisions.
Source: Louisiana Clean Fuels / Louisiana Department of Natural Resources