USDA Announces $81 Million for Clean Energy Projects in Colorado

On June 17, 2024, USDA announced $81 million in partially forgivable loans for clean energy investments in Colorado. The IRA investments come from the Powering Affordable Clean Energy Program, which provides low interest loans with up to 60% loan forgiveness to renewable energy developers, rural electric cooperatives, and other rural energy providers for renewable energy storage and projects. The announcement was made in Fort Collins, Colorado, where Poudre Valley Rural Electric Association has been selected to receive a $9 million partially forgivable loan to build two community solar and battery energy storage projects. Section 22001 of the IRA appropriates $1 billion to USDA to fund loan costs under section 317 of the Rural Electrification Act of 1936, 7 U.S.C. § 940g.