The Minnesota Climate Innovation Finance Authority (MnCIFA) issued a Request for Information (RFI) from clean energy project developers, asset owners, financial institutions and other relevant parties to:
- Inform the design of financial products and programs housed within MnCIFA. Products could include warehousing and aggregation credit facilities; credit enhancements; pre-development and construction financing; and term loans and investments, amongst other structures.
- Solicit initial feedback on the potential use of state funds from a State Energy Financing Institution (SEFI) to implement the goals of MnCIFA while leveraging federal funding from the U.S. Department of Energy’s Loan Programs Office (LPO). Specifically, MnCIFA seeks initial input to inform how to best leverage the DOE LPO SEFI-supported category of the Title 17 Clean Energy Financing Program. Through this program category, LPO can augment state-administered clean energy programs providing additional financial support to projects that align federal energy priorities with those of states like Minnesota.
Responses to the RFI will inform MnCIFA as they develop a strategic plan and long-term investment strategies.
In particular, MnCIFA is looking to support projects in Minnesota that have financial needs that cannot be fully met by existing financial tools available on the private market.
Based on state law, MnCIFA must ensure that at least 40 percent of the direct benefits of authority activities flow to environmental justice communities. This RFI seeks feedback on clean energy initiatives, especially those with an emphasis on benefitting environmental justice communities, and that can leverage private, philanthropic or other sources of financial support. Partnerships will greatly enhance the impact of MnCIFA.
This RFI is available through the submission deadline, Friday, March 15 at 5 p.m. Proposals must be submitted to [email protected]. Instructions for submission content are detailed in the RFI.
