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Name |
Indiana Industrial Energy Efficiency Fund |
Status |
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Active |
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Funding Mechanism |
Loan fund |
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Duration |
1994 - present |
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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. |
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Sponsors |
Indiana State Government |
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Eligible Sectors |
Manufacturers |
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Eligible Projects/Technologies |
Process improvement, cogeneration, and installation of latest manufacturing process technology |
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Fund Endowment |
State Energy Program funds |
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Terms |
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-Funding Instruments |
Loans |
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-Interest Rates |
0% |
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-Payback |
2-10 years |
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-Size |
US$ 250,000 or 50% of the eligible project cost, whichever is less |
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-Collateral |
Second lien position on equipment purchased with loan funds |
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-Share of loan in project cost |
Maximum 50% of the project |
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-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. |
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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. |
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Sources |
State of Indiana |
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Contact Information |
Industrial Program Manager Tel: (317) 232-8940 |
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