Predevelopment Financing Initiative

Overview

The Pre-Development Financing Initiative is designed to assist New England developers and public entities develop large-scale renewable energy projects in and/or serving the state. The goals of this Initiative are to:

•  Stimulate development of renewable energy generation that will serve Massachusetts electricity markets

•  Reduce financial risk to these projects in early stages of development

•  Help Massachusetts public entities evaluate and undertake renewable energy development on public property

Eligible Projects

Pre-development Financing seeks applications from organizations that are interested in developing grid-connected electric generating facilities:

These generating facilities must primarily intend to generate electricity for the wholesale electricity market. A minimum of 50% of the renewable energy produced must be provided to this market, rather than using it mostly for self-use.

Eligible renewable energy technologies include solar electric, wind, landfill methane or anaerobic digester gas, hydroelectric, and low-emission advanced biomass generating facilities.

Eligible Applicants

Applicants must be either legally registered entities (e.g., a corporation, partnership, limited liability company or other business organization including non-profits), or public entities, including federal, state and local governments.

Unsecured loans are available to all eligible applicants for pre-development activities and to public entities or non-profits for feasibility activities. Grant funding under this Solicitation is only available to public entities for feasibility studies.

MTC intends to support applicants who would otherwise be unable to undertake their proposed feasibility or pre-development activities were it not for this funding.

Available Funding

The funding mechanism, activities funded by MTC, and the level of funding vary according to the type of applicant and project:

•  Feasibility study: funding up to $50,000 per project

•  Pre-development: (wind and biomass): up to $250,000 per project

•  Pre-development (other): up to $150,000 per project

In addition, each grant or loan recipient must provide a cost share of at least 25% towards the study or pre-development activities.

Funding is available for feasibility studies or pre-development activities only. Construction financing is not available under this Solicitation.

View Solicitation
View Funded Projects

For more information, contact Amy Barad at (508) 870-0312 x285 or barad@masstech.org.