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Power Project Fund is a loan program from the Alaska Energy Authority that funds development, expansion, or upgrade of electric power facilities in Alaska, including distribution, transmission, efficiency improvements, bulk fuel storage, and waste energy systems. Loan terms can extend up to 50 years, with interest rates ranging from zero to the average weekly municipal bond yield for the preceding 12 months.
Rates may be adjusted downward to support financial feasibility. Eligible borrowers include local utilities, local governments, and independent power producers in Alaska. Loan requests over $5 million require legislative authorization.
Applications require a fee and completed application form. Award amounts are determined based on project need.
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Alaska Energy Authority > What We Do > Grants & Loans > Power Project Fund The Power Project Fund (PPF) program provides loans to local utilities, local governments, or independent power producers for the development, expansion or upgrade of electric power facilities, including distribution, transmission, efficiency and conservation, bulk fuel storage and waste energy.
The loan term is related to the productive life of the project but cannot exceed 50 years. Interest rates vary between tax-exempt rates at the high end and zero on the low end. The tax-exempt rate is equal to the average weekly yield of municipal bonds for the 12 months preceding the date of the loan application.
The interest rate can be adjusted downward in certain circumstances to improve financial feasibility. Loan requests of more than $5 million require legislative authorization to apply. Submit an application using the loan application form provided in the Program Documentation Section below.
In order for AEA to begin processing an application, an application fee must be submitted along with the completed application form, as outlined in the fee section below.
Up to and including $100,000 >$100,000 up to and including $500,000 >$500,000 up to and including $1 million Power Project Fund Application Form & Cover Sheet Amortization Schedule Template (informational purposes only) Credit Reference Authorization Current Borrower Loan Payment Information
According to the current listing, eligibility includes: Local utilities, local governments, and independent power producers in Alaska. Loan requests over $5 million require legislative authorization. Confirm the full requirements in the official notice before applying.
Power Project Fund is funded by Alaska Energy Authority. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Alaska. If your organization operates elsewhere, check the official notice for location requirements.
Applications go through the funder's official portal — the Apply Now link on this page goes there directly.
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