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Funding
The WPEF seeks to develop a diversified portfolio of sustainable energy investments. Applications can be submitted throughout the year. WPEF has two primary project financing offerings.
Conventional Financing is often provided in the form of a sustainable energy project loan. Loans are typically in the range of $25,000 to $1,000,000. WPEF interest rates and fees are competitive with commercial lending. Applicants are required to complete an initial financing request form which provides the WPEF with an overview of the applicant’s project and financial needs. After an initial review to determine if the project is aligned with the WPEF mission and is of benefit to the West Penn Power ratepayer, the Fund will request additional information to conduct its technical and financial due diligence. The Fund works with businesses throughout the application process to develop a customized loan offering.
Inquiry FormACT 129 Energy Micro Loans are offered to commercial, industrial, and institutional entities that wish to make eligible ACT 129 energy efficiency improvements in the West Penn Power service region. Loans range from $10,000 to $50,000. Applicants are required to complete a project overview and attach their West Penn Power pre-approval letter to be considered for financing. Upon submission and review, the Fund will contact applicants for the necessary financial and business information needed to complete its review.
Loan ApplicationAlthough the WPEF is primarily focused on placing its funding in projects that provide a modest rate of return, the WPEF provides limited grant making. The WPEF provides grantmaking through a sustainable energy financing request-for-proposals (RFP) process. The RFP is typically released in the 3rd quarter of each year and is due in the January/ February timeframe of the following year. You do not have to wait for the RFP, the WPEF is constantly seeking mission aligned projects. The WPEF reserves the right to request additional information and conduct site visits if they are deemed necessary and the right to adjust the timing and frequency of its RFP(s) based on program need and the availability of grant funding.