§2703 Loans for project costs

Summary

The Secretary can make loans up to 75 percent of the project costs to local governments, electric cooperatives, industrial development agencies, nonprofits, or others for small hydroelectric projects. Loans are allowed only if the project is built at an existing dam, all required federal, state, and local permits and licenses are issued, and the project will not cause significant harm to the environment, fish and wildlife, recreational water use, stream flow, or other uses of the water. Applicants without other suitable financing and whose projects will show whether small hydropower can generate and use energy will get preference. Applicants must give the Secretary information about the equipment and services they plan to use. The Secretary may ban equipment that is too costly, performs poorly, or defeats the program’s purpose. Non-confidential information will be made public unless protected under section 796(d) of title 15. Joint participation by eligible applicants is encouraged where allowed by law.