The Energy Infrastructure Revolving Loan Program provides loans to local units of government to help finance energy infrastructure projects to promote economic growth in Mississippi.
The Energy Infrastructure Revolving Loan Program provides funding to municipalities or counties to finance energy infrastructure or infrastructure improvements needed to support large economic development projects that involve a private corporate investment of at least $50 million.
Loans may not exceed the total eligible costs of the construction, repair or improvement project. The
maximum loan amount is $5,000,000.
Eligible Recipients Detail:
Municipalities and Counties
Last Mile Infrastructure; General Infrastructure
Eligible Purpose Detail:
Loan funds may be used for the following activities:
-To construct, repair or improve energy infrastructure – defined as electric power networks (including generation plants, substations, electrical grid and local distribution infrastructure) and natural gas pipelines, storage, distribution terminals and local distribution networks – in support of a large economic development project. Loan funds may be used to provide assistance to an energy-providing utility or an energy cooperative that is constructing, repairing or improving the needed energy infrastructure.
-For site preparation for an economic development project locating or expanding on property owned by the city, town or county applying for loan assistance or on property owned by the business locating or expanding in Mississippi.
Project must attract private corporate investment of $50 million. The maximum loan term is 20 years.
Energy Infrastructure Revolving Loan funds are issued at an interest rate of three percent.