On May 16, 2023, USDA announced its intent to solicit Letters of Interest (LOI) for applications under the New ERA Program, which makes $9.7 billion appropriated by IRA section 22004 available to eligible rural electric cooperatives for the deployment of renewable energy, zero-emission, and carbon capture systems. The May 16 announcement also provided eligibility requirements, application process and deadlines, and criteria for assessment of applications.
On July 27, 2023, USDA announced a new requirement to submit an Application for Federal Assistance as part of the LOI, introduced an opportunity for applicants to request Agency assistance prior to submission of an LOI, and extended the original Letter of Interest deadline from August 31, 2023 to September 15, 2023 at 11:59am ET, at the request of stakeholders.