The Power Project Fund (PPF) loan 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.
How to Apply
Submit an application with the application fee according to the table below.
You can download the PPF Loan application instructions and cover sheet/checklist, here.
Program Overview
| Loan amount requested
|
Application fee
|
| Up to and including $100,000
|
$200
|
| >$100,000 up to and including $500,000
|
$1,000
|
| >$500,000 up to and including $1 million
|
$2,000
|
| >$1 million
|
$5,000
|
For more information about the PPF program, including the prevailing interest rate, please see our downloadable program brochure.
PPF Governance
▪ Statutes
▪ Regulations