Administrative Agency:

Public Corporation of the State: Department of Commerce, Community and Economic Development (DCCED), Alaska Industrial Development and Export Authority (AIDEA), Alaska Energy Authority (AEA)

Program Goals:

Provides loans to local utilities, local governments, or independent power producers for the development or upgrade of electric power facilities, including conservation, bulk fuel storage, and waste energy conservation. Loan term is related to the life of the project. Interest rates vary between tax-exempt rates at the high end and zero on the low end.

Resource Provided:

AEA administers two loan programs. The programs are described as follows: -Bulk Fuel Revolving Loan Fund: Assists small rural communities in purchasing bulk fuel supplies. Loan may not exceed 90% of the wholesale price of the fuel purchased plus transportation costs; maximum loan is $750,000. The loan must be repaid within one year. There is no interest on the first BFRLF loan; 5% interest applies for the second BFRLF loan; and an interest rate based on the average weekly yield of municipal bond rates applies to additional loans. Loans may be made to municipalities or unincorporated villages with a population under 2,000 or to private individuals, corporations, and cooperatives, with a written endorsement from the local governing body. -Power Project Revolving Loan Fund: Provides loans to local utilities, governments, or independent power producers to develop or upgrade power facilities, including conservation, bulk fuel storage, and waste energy conservation, or water supply projects. Loan term is related to the life of the project. Interest rate ranges between zero and a rate based on the average weekly yield of municipal bond rates.

Program Contact:  (Primary Contact listed first.)

Danita Martin, Loan Servicing Supervisor
813 W. Northern Lights Blvd.
Anchorage, AK 99503
Phone: (907) 771-3016
Fax: (907) 771-3044
e-mail: dmartin@aidea.org
Web site: http://www.akenergyauthority.org/programs.html