The North Dakota Industrial Commission approved program guidelines today and is currently accepting financial assistance applications through Nov. 1, 2021, for the Clean Sustainable Energy Authority.
The Legislature established the Clean Sustainable Energy Authority in the recent 2021 legislative session, appropriated $25 million for the program and authorized the Commission to borrow up to $250 million from the Bank of North Dakota to establish a low-interest loan program. Projects must propose research, development, and technological advancements for large-scale development and commercialization of projects, processes, activities and technologies. Projects that reduce environmental impacts and/or increase sustainability of energy production and delivery are eligible for consideration.
The guidelines provide that a grant can be for 50% of a project’s costs with a minimum amount of $1 million and a maximum amount of $10 million. Loans can be for up to 50% of a project’s cost with a minimum loan or loan guarantee funding award of $10 million.
In a joint statement, the Commission said, “We appreciate the efforts of the members of the Clean Sustainable Energy Authority in acting so promptly in approving the program guidelines and review process. These funds will be instrumental in making North Dakota a world leader in energy innovation and promoting energy resiliency while meeting market demands for carbon reduction.”
The North Dakota Industrial Commission consists of Gov. Doug Burgum as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring. The Industrial Commission oversees the Authority and must approve all funding awards after receiving recommendations from the 16-member Authority.
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