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Home My WebLink AboutAlaska Energy Authority Energy Funding Resources 02-28-2020-AOpportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments High Energy Cost Grants Electrical Generation and Transmission; Energy Efficiency; Solar; Wind; Hydro; Biomass; Space Heating 4/27/2020 Program Total $10,000,000, Award Ceiling $3,000,000, Award Floor $100,000 USDA RUS Grants: assist communities with extremely high energy costs. The grant funds may be used to acquire, construct, or improve energy generation, transmission, or distribution facilities serving communities where the average annual residential expenditure for home energy exceeds 275% of the national average. Eligible projects also include on-grid and off-grid renewable energy projects and the implementation of energy efficiency and energy conservation projects for eligible communities. Projects cannot be for the primary benefit of a single household or business. Grant funds may not be used for the preparation of the grant application, operating costs, or for the purchase of any equipment, structures, or real estate not directly associated with the provision of community energy services. •Native American tribal governments (Federally recognized) •Special district governments •Independent school districts •Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education •Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education •Native American tribal organizations (other than •Federally recognized tribal governments) •For profit organizations other than small businesses •State governments •Small businesses •Individuals •Public housing authorities/Indian housing authorities High Cost Defined by using the 2019 benchmarks: Benchmarks are based on the AEI estimated national annual average of household expenditure and cost per unit of fuel X 275%. Eligibility is demonstrated by using one or more of the benchmarks to show high annual household energy costs or per unit costs. •Electricity $3,779 -OR- $0.3556 per kilowatt hour •Natural gas $1,639 -OR- $27.37 per 1000 cubic ft. •Fuel oil $3,317 -OR- $8.80 per gallon •LPG/propane $1,843 -OR- $6.82 per gallon •Total household energy $5,104 -OR- $66.19 per million Btu. Fiscal Year 2020 Advanced Vehicle Technologies Research Funding Opportunity Announcement Alternative Fuels, EV Charging Community Partner Projects, and Tech Integration Full applications 4/4/20 Estimated Total Program Funding $133,200,000, Award Ceiling $7,500,000 This FOA seeks research projects to address priorities in the following areas: advanced batteries and electrification in support of the recently-announced DOE Energy Storage Grand Challenge; advanced engine and fuel technologies, including technologies for off-road applications and alternative fueled engines; lightweight materials; new mobility technologies (energy efficient mobility systems); and alternative fuels technology demonstrations. U.S. citizens and lawful permanent residents, For-profit entities, educational institutions, and nonprofits, State, local, and tribal government entities are eligible to apply for funding as a prime recipient or sub recipient. t. Nonprofit organizations described in section 501(c)(4) of the Internal Revenue Code of 1986 that engaged in lobbying activities after December 31, 1995, are not eligible to apply for funding. AEA is planning on applying in focus areas 13, 14, and 15. #13. Alternative Fuel Proof-of-Concept in New Communities and Fleets #14. Electric Vehicle and Charging Community Partner Projects #15. Technology Integration Open Topic Please contact tasher@akenergyauthority.org or bmcgregor@akenergyauthority.org as soon as possible if you would like to collaborate/partner on an application. Links: https://www.grants.gov/web/grants/view- opportunity.html?oppId=323822 https://www.energy.gov/eere/articles/doe-announces-133- Technical Assistance, DOE Indian Energy Strategic energy planning, including Ongoing Technical Assistance The Office of Indian Energy, DOE national laboratories, and other partnering organizations provide the technical assistance at no cost. Current projects funded by DOE grants receive highest priority. Priority will also be given to tribes that have previously submitted grant applications, but have not yet received awards. Types of Technical Assistance: • Technical Analysis • Financial Analysis • Strategic Energy Planning •Federally recognized Indian tribes, including Alaska Native villages •Tribal entities —including Alaska Native regional and village corporations, intertribal organizations, and tribal energy development organizations. Applying for technical assistance requests is very easy to do. Click on the Technical Assistance web link, read through, and click on "Apply" for technical assistance. An email will pop up, type in your contact information, and explain what type of assistance you are requesting and a concise description, and send the email This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Alaska Energy Authority - Energy Funding Resources - February 2020 By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 1 of 6 Opportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Power Project Loan Fund (PPF)Power Projects Ongoing As of December 31, 2019 the uncommitted cash balance is $7,346,244 AEA Loan: The Power Project Fund (PPF) loan program provides loans for the costs of reconnaissance studies, feasibility studies, license and permit applications, preconstruction engineering, and design of power projects; and constructing, equipping, modifying, improving, and expanding small-scale power production facilities that are designed to produce less than 10 megawatts of power, bulk fuel storage facilities, and transmission and distribution facilities, including energy production, transmission and distribution, waste energy, energy conservation, energy efficiency, and alternative energy facilities and equipment. Electric utility; regional electric authority; regional and village corporation; independent power producer; Borough or municipal governments; village council; and independent power producers. Please email tbenkert@akenergyauthority.org, for the current interest rate. A non-refundable application fee is required: • $200 for up to and including $100,000; • $1,000 for up to $100,000 and including $500,000; • $2,000 for more than $500,000 and not more than $1,000,000; or • $5,000 for more than $1,000,000 If the authority approves an application, the borrower shall pay a closing fee of one percent of the total loan amount at the time of closing. The application fee will be credited toward the closing fee. FY 2019 EDA Disaster Supplemental Continuous $587,000,000 program total, $190,000,000 allocated to the Pac NW Regional Office in Seattle Subject to the availability of funds, this investment assistance will help communities and regions devise and implement long-term economic recovery strategies through a variety of non-construction and construction projects, as appropriate, to address economic challenges in areas where a Presidential declaration of a major disaster was issued under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. § 5121 et seq.) (Stafford Act) as a result of Hurricanes, and of wildfires, volcanic eruptions, earthquakes and other natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019….” (1) District Organization; (2) Indian Tribe or a consortium of Indian Tribes; (3) State, city or other political subdivision of a State, including a special purpose unit of a State or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions; (4) institution of higher education or a consortium of institutions of higher education; or (5) public or private non-profit organization or association acting in cooperation with officials of a political subdivision of a State. In terms of economic development, resilience is broadly defined as the ability of a community or a region to anticipate, withstand, and bounce back from Various disruptions to its economic base. Among the examples given, energy and broadband are included. Rural Energy for America Program (REAP) Renewable Energy Systems & Energy Efficiency Improvement Loans & Grants Renewable Energy: Biomass; Geothermal; Hydropower; Wind; Solar; Ocean; Energy Efficiency Measures 10/31/2020 Estimated Program Total, $70,000,000 Award Ceiling, $500,000 Ceiling. Funding Available • Loan guarantees on up to 75% project cost • Grants up to 25% of project cost • Combined grant and loan guarantee, up to 75% project cost Loan Guarantee Terms • $5,000 minimum loan amount • $25 million maximum loan amount Renewable Energy System (RE) Grants • $2,500 minimum • $500,000 maximum Energy Efficiency (EE) Grants • $1,500 minimum • $250,000 maximum • Rural small businesses and agriculture in an area with no more than 50,000 people; essentially anywhere in Alaska, except Anchorage. •The grant requires an ASHRAE level 2, or above Energy Audit to qualify, can qualify for 25% of costs of energy efficiency measures and renewable energy systems for commercial buildings. •Applications for Grants of $20,000 or Less & Loan/Grant of $20,000 or Less Combo Applications-October and March •Applications for Unrestricted Grants & Loan/Unrestricted Grant Combo Applications •Guaranteed Loans-Continuous Application Cycle For more information, please contact Renee Johnson at the USDA office in Palmer 907-761-7712. By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 2 of 6 Opportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Rural Business Development Grant (RBDG) Technical Assistance; Feasibility Studies; Training; Education; Possible funding source for Energy Efficiency Programs Not indicated No maximum grant amount, however smaller request are given priority ranging from $10,000 to $500,000. USDA RD Grant: Enterprise grants must be used on projects to benefit small and emerging businesses in rural areas as specified in the grant application. Uses may include: • Training and technical assistance, such as project planning, business counseling/training, market research, feasibility studies, professional/technical reports, or product/service improvements • Acquisition or development of land, easements, or rights of way; construction, conversion, renovation of buildings; plants, machinery, equipment, access for streets and roads; parking areas and utilities • Pollution control and abatement • Capitalization of revolving loan funds, including funds that will make loans for start-ups and working capital • Distance adult learning for job training and advancement • Rural transportation improvement • Community economic development • Technology-based economic development • Feasibility studies and business plans • Leadership and entrepreneur training • Rural business incubators • Long-term business strategic planning Rural public entities including, but not limited to: • Towns; • Communities; • State Agencies; • Authorities; • Nonprofit Corporations; • Institutions of Higher Education; • Federally-Recognized Tribes; • Rural Cooperatives (If organized as a private nonprofit corporation) No cost sharing required. How are applications evaluated? • Evidence showing job creation at local businesses; • Percent of non-federal funding committed to the project; • Economic need in the area to be served; • Consistency with local economic development priorities; • Experience of the grantee with similar efforts. Economic Development Assistance Programs Economic Development; Works; economically distressed community support Ongoing $3,000,000 Award Ceiling, $100,000 Floor U.S. Department of Commerce Grant: Promoting innovation and competitiveness, preparing American regions for economic growth and success in the worldwide economy through strategic investments and partnerships that create the regional economic ecosystems required to foster globally competitive regions throughout the United States. EDA supports development in economically distressed areas of the United States by fostering job creation and attracting private investment. • Special District Governments; • Native American Tribal Governments; • Native American Tribal Organizations (other than federally recognized tribal governments) • Institutions of Higher Education; • County Governments; • State Governments; • City or Township Governments; • Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education • Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education. A record of successfully assisting rural businesses and communities, normally including experience making and servicing commercial loans. Rasmuson Tier 1 Grants Varies Ongoing $25,000 Award Ceiling Rasmussen Foundation (Private Sector) Grant: Short-term projects that include, but are not limited to, the purchase of furnishings, equipment and appliances, vehicles, technology, building construction/renovations/restorations, medical equipment, sports equipment, scientific equipment, musical instruments, and library collections (books and audio-visual) development. Organizations must be based in Alaska, have 501(c)(3) status and classified as a “not a private foundation” under section 509(a) of the tax code. In some cases, the Foundation will fund units of government, such as a city or tribe, or religious organizations if the project has broad community impact. Up to $25,000 for nonprofits. Mostly focused on capital projects. By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 3 of 6 Opportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Rasmuson Tier 2 Grants Varies Ongoing $25,000 and above Rasmussen Foundation (Private Sector) Grant: of more than $25,000 for large capital (building) projects, projects of demonstrable strategic importance or innovative nature that address issues of broad community or statewide significance. Tier 2 grants may also support technology updates and creative works that comply with the description above. The project must demonstrate long-term benefits or impacts, and be initiated by an established organization(s) with a history of accomplishment. Please review the past awards for an overview of the types of projects funded by the Foundation. The Foundation accepts proposals from high-performing, Alaska- Based 501(c)(3) Organizations classified as “not a private foundation” under section 509(a) of the tax code. Tribes and Cities are eligible to request support for projects that provide broad community benefits such as a library, health care facility and cultural center. In most cases an organization will have successfully applied for at least one Tier 1 before considering a Tier 2 request. Over $25,000 for nonprofits. Mostly focused on large capital projects. Economic Impact Initiative For communities with severe economic distress. Enlarge and/or improve essential community facilities. Ongoing $150,000 Award Ceiling. USDA RD Grant: Up to 75% of eligible project cost based on need and funding availability. Priorities are given to projects related to public health and safety, energy efficiency and education. To construct, enlarge or improve community facilities for health care, public safety and public service. Grants may be made in combination with other financial assistance such as a Community Facilities direct or guaranteed loan, applicant contribution or funding from other sources. Eligibility: Rural areas including; cities, villages, townships, towns and federally-recognized Tribal Lands, with no more than 20,000 residents that have a “Not Employed Rate” greater than 19.5%. The median household income of a community being served must be below 90% of the state non-metropolitan median household income for grant eligibility. This program helps very small, financially distressed rural communities extend and improve community facilities and public safety. New Loan Refinancing Procedures, and Deadlines for the Refinancing of Federal Financing Bank Loans Pilot Program. Energy Efficiency is among the priorities. See CFR 3570.7 for all eligible activities. Community Facilities Direct Loan & Grant Program Essential Rural Community Facilities; includes power & water Ongoing Depends on funding type. USDA RD Loan/Loan Guarantee: This program provides affordable funding for purchase, construct, and / or improve essential community facilities, purchase equipment and pay related project expenses. Public bodies; Community-based non-profit corporations; and Federally-recognized Tribes. Rural areas including cities, villages, townships and towns including Federally Recognized Tribal Lands with no more than 20,000 residents according to the latest U.S. Census Data are eligible for this program. Priority point system based on population, median household income; Small communities with a population of 5,500 or less; Low-income communities having a median household income below 80% of the state nonmetropolitan median household income. Provides low interest direct loans, grants, or and combination of the above, for the loan guarantee program. By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 4 of 6 Opportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Rural Economic Development Loans and Grants (REDLG) Community Development; Job Creation; Facilities and Equipment; Business Expansion Ongoing $300,000 Grant Award Ceiling, $2,000,000 Loan Ceiling USDA RD Loans & Grants: Program provides funding for rural projects through local utility organizations. USDA provides zero- interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas. The ultimate recipients repay the lending utility directly. The utility is responsible for repayment to USDA. Provides grants to local utility organizations which use the funding to establish revolving loan funds (RLF). Loans are made from the revolving loan funds to projects that will create or retain rural jobs. When the revolving loan fund is terminated, the grant is repaid to USDA. Goals: • Achieving e-Connectivity for Rural America • Developing the Rural Economy • Harnessing Technological Innovation • Supporting a Rural Workforce • Improving Quality of Life Intermediaries may use REDLG funds to lend for projects in rural areas or towns with a population of 50,000 or less. Eligible entities are: Any former Rural Utilities Service (RUS) borrower. Current Rural Development Electric or Telecommunication Programs Borrowers who borrowed, repaid or pre-paid an insured, direct, or guaranteed loan. Nonprofit utilities that are eligible to receive assistance from the Rural Development Electric or Telecommunication Programs; or Current Rural Development Electric or Telecommunication Programs Borrowers. AEA potentially eligible based on RUS borrower eligibility. Deadlines are quarterly. Terms for the intermediary are: 10 years at 0 percent. Grants require a 20 percent match from the intermediary. Grants must be repaid to USDA upon termination of the RLF. •Up to $300,000 in grants may be requested to establish the RLF •Up to 10 percent of grant funds may be applied toward operating expenses over the life of the RLF •Up to $2 million in loans may be requested Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program Construction of Commercial Scale Bio- Refineries: Advanced Biofuels; Renewable Chemicals; or Biobased Products April 1st and Oct. 1 annually $250,000,000 Program Total Loan Guarantees USDA RD Loan Guarantee: up to 80%. This program assists in the development, construction, and retrofitting of new and emerging technologies for advanced biofuels, renewable chemicals and biobased products by providing loan guarantees up to $250 million. Lenders with legal authority, sufficient experience and expertise, and can demonstrate they meet the FDIC definition of “Well Capitalized” at the time of application and issuance of Loan Note Guarantee, including: • Federal or State chartered bank; • Federally recognized tribes, Cooperatives; • Farm Credit Bank; or • Other Farm Credit System institution with direct lending authority; Credit Unions subject to credit examination and supervision by a State agency or the National Credit Union Administration; • The National Rural Utilities Cooperative Finance Corporation. Required Letter of Intent Due: Not less than thirty (30) days prior to application deadline Electric Infrastructure Loans and Loan Guarantees (FFB) Energy Efficiency; Renewable Energy; Maintenance; Upgrades. Opening a refinance Pilot Program. Ongoing Varies USDA RD Loan: Insured loans primarily finance the construction of electric distribution facilities in rural areas. The guaranteed loan program has been expanded and is now available to finance generation, transmission, and distribution facilities. The loans and loan guarantees finance the construction of electric distribution, transmission, and generation facilities, including system improvements and replacement required to furnish and improve electric service in rural areas, as well as demand side management, energy conservation programs, and on-grid and off-grid renewable energy systems. Most retail or power supply providers serving qualified rural areas, including: •State and local governmental entities •Federally-recognized Tribes •Nonprofits including cooperatives and limited dividend or mutual associations •For-profit businesses (must be a corporation or limited liability company) Loan Guarantees up to 100% allow the Federal Financing Bank (FFB) to extend credit to qualified borrowers in rural areas. 100% of the construction work plan can be financed. Hardship Loans may be used, at the sole discretion of the Rural Utilities Service, to assist applicants in rural areas that are either economically distressed or recovering from an unavoidable event, such as a natural disaster By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 5 of 6 Opportunity Name (Hyperlinked to Source) Project Type(s)Due Date Amount Description Eligibility Comments This matrix is updated monthly by AEA staff. While we do our best to make it comprehensive it is not fully complete; funding opportunity sources change frequently and there may be opportunities missing. Opportunity summaries are provided to assist informing the reader’s review and are not comprehensive. For more information on an opportunity, links to source websites and documents are provided, as are opportunity identification numbers, when available. AEA's project development and finance staff work with utilities and communities around the state to assist where needed with project selection, identifying and securing project funding, project management, technical assistance, and ongoing operations and maintenance best practices. The monthly EFOM (Energy Funding Opportunities Matrix) is a resource intended to help communities, utilities, and organizations identify and track various means of funding for projects. For more information about this list and how to get on the distribution list, contact Tom Benkert, Energy Funding Resources Specialist, at tbenkert@akenergyauthority.org, or call 907-771-3985. Business & Industry Loan Guarantees Job creation; Business Development; Purchase Land & Facilities; Equipment (energy),Tenant Improvements; Renovation; Debt Refinance. Continuous $25,000,000 Maximum Loan Guarantee USDA RD Loan Guarantee: This program bolsters the availability of private credit by guaranteeing loans for rural businesses. May be used in any area other than a city or town with a population of greater than 50,000 inhabitants and the urbanized area of that city or town. The borrower’s headquarters may be based within a larger city as long as the project is located in an eligible rural area. The lender may be located anywhere. For populations under 50,000 people are eligible, including: • For-profit businesses; • Nonprofits; Cooperatives; • Federally-recognized Tribes; • Public bodies; Individuals. Eligible Lenders: • Federal or state-chartered banks • Savings and loans • Farm credit banks • Credit unions Maximum amount of a loan guarantee: •80 percent for loans of $5 million or less •70 percent for loans between $5 and $10 million •60 percent for loans exceeding $10 million, up to $25 million maximum Loan terms depend on what is being financed. Interest rates are negotiated between the lender and borrower, subject to Agency review. AHFC Energy Efficiency Revolving Loan Fund (AEERLP) for Public Facilities Energy Efficiency Ongoing No Maximum AHFC Loan: For Public Facilities. Provides financing for permanent energy-efficient improvements to public buildings owned by regional educational attendance areas, by the University of Alaska, by the state or by municipalities in the state. Borrowers obtain an Investment Grade Audit as the basis for making cost-effective energy improvements, selecting from the list of energy efficiency measures identified with the initial rating. All of the improvements must be completed within 365 days of loan closing. • Regional education attendance areas; the • University of Alaska; the • State of Alaska; and • Municipalities of the state. No maximum loan amount. 15-year term (at a 4.25% to 4.5% rate as of 10/23/2018), or as determined by AHFC. Up to 12- month max draw term, or as determined, followed by 14-year term. Interest rate determined on date of Loan Application and Investment Grade Audit submitted. Debt Service Coverage Ratio of 1.20 or greater. By: Tom Benkert, Energy Funding Resources Specialist, Alaska Energy Authority 6 of 6