Indiana Industrial Energy Efficiency Fund

 Name

Indiana Industrial Energy Efficiency Fund

Status

Active

Funding Mechanism

Loan fund

Duration

1994 - present

Objectives

To help Indiana manufacturers increase the energy efficiency of their manufacturing process. The fund is used to replace or convert existing equipment, or to purchase new equipment as part of a process/plant expansion, which will lower energy use.

Sponsors

Indiana State Government

Eligible Sectors

Manufacturers

Eligible Projects/Technologies

Process improvement, cogeneration, and installation of latest manufacturing process technology

Fund Endowment

State Energy Program funds

Terms

-Funding Instruments

Loans

-Interest Rates

0%

-Payback

2-10 years

-Size

US$ 250,000 or 50% of the eligible project cost, whichever is less

-Collateral

Second lien position on equipment purchased with loan funds

-Share of loan in project cost

Maximum 50% of the project

-Loan criteria

To be eligible for the IEEF, a company must have a manufacturing SIC (Standard Industrial Classification) code of 20-39. The project must have sufficient energy savings and contribute to state economic development goals.

Comments

The IEEF is administered by the EPD for the REDB on a quarterly schedule. Initial pre-proposals are required 12-16 weeks prior to a board meeting.

Sources

State of Indiana

Contact Information

Industrial Program Manager Tel: (317) 232-8940