The California Energy Commission launched a $90m program that will provide financing to manufacturers.
The Clean Energy Manufacturing Program will combine two existing initiatives that offer California-based clean energy businesses a combination of financing options including:
– loans, loan guarantees,
– tax-exempt financing,
– production incentives,
– sales tax incentives and
– credit enhancements.
Firstly, it uses the remaining American Recovery and Reinvestment Act State Energy Program funds to provide $30.6m in low-interest loans to private businesses that improve or expand their energy efficiency or renewable energy manufacturing facilities in California.
The Energy Commission expects loans to be available by late spring.
Secondly, the Energy Commission’s existing Alternative and Renewable Fuel and Vehicle Technology Program offers $59.5m in state funding to companies developing alternative and renewable fuels and advanced transportation technologies.
This program provides funding in four areas for 2010:
– Biomethane Production ($21.5m),
– Ethanol Production Incentives ($6m),
– Vehicle and Component Manufacturing ($19m), and
– Advanced Biofuel Production ($13m).
The Biomethane Production solicitation notice of award will be announced in March.
The remaining three solicitations will be released in April/May 2010.