Application Deadline for the Financing is Quickly Approaching
(September 9, 2010 Albuquerque, NM) USDA Rural Development State Director Terry Brunner announced today the application deadline for $3 million in grant funding to offset the cost of renewable energy systems feasibility studies is quickly approaching.
Eligible applicants are agricultural producers and rural small businesses wanting to build an alternative energy system located in rural areas of 50,000 inhabitants or fewer. Renewable energy includes energy derived from; wind, solar, renewable biomass, geothermal or hydroelectric source; or hydrogen derived from renewable biomass or water using wind, solar, geothermal or hydroelectric energy sources.
In making the announcement Brunner said, “In this economy, we especially want to help our rural businesses to explore the possibilities of using renewable energy. A feasibility study can help a business take the most appropriate path in creating a project and save time and money. It also provides a benefit to the business because these types of studies are usually required by banks and other lending institutions including Rural Development in making loans or providing further funding.”
Each request under this grant may not exceed 25 percent of eligible project (the feasibility study) cost or $50,000, whichever is less. The eligible applicants will be the prospective owner of the renewable energy system for which the study grant is sought. The technology for the renewable energy system must be pre-commercially or commercially available and replicable.
Applications must be received no later than October 5, 2010 (NOT a postmark date) and addressed to the Rural Development Energy Coordinator in the New Mexico State Office located at 6200 Jefferson NE Room 255, Albuquerque, NM 87109. Applications received after that date will be deemed ineligible. An application may also be submitted by the deadline date through www.grants.gov. Further information about this grant is available at the New Mexico USDA Rural Development State Office, 505.761.4953 or at any one of USDA-RD’s area offices located in: Los Lunas, 505.865.4643x4; Las Cruces, 505.522.8775x4; or Aztec, 505.761.4953.
USDA Rural Development administers these funds through the Business and Cooperative Programs, which provides loan guarantees and grants for a wide range of general business endeavors and also provides funding for value-added and energy projects. For more information on Rural Development’s business and cooperative programs, click onto http://www.rurdev.usda.gov/Business.html.