Press Release

(Indianapolis)-Lt. Governor Becky Skillman has announced the launch of H.E.L.P.-Hoosier Energy Loan Program. This revolving loan program will make low interest loans from $50,000 to $500,000 to commercial and industrial facilities in Indiana for energy efficiency upgrades. Hoosier companies have until May 24, 2010 to apply for the loans. The program will help fund a variety of energy efficiency upgrades and retrofits.

"The biggest energy users in Indiana are our factories, plants and commercial facilities, "said Lt. Governor Becky Skillman. "This new and innovative program will help Hoosier businesses make the decision to increase their energy efficiency, helping their business while helping shape a better energy future for Indiana."

The funds for qualifying retrofit projects will be loaned at 4% interest, and must be paid back to the H.E.L.P. fund within 10 years. Initial funding for the program is from federal American Reinvestment and Recovery Act (ARRA) funds being administered through the Indiana Office of Energy Development (OED).

"This is the kind of self-sustaining program that we need to launch a serious effort to increase energy efficiency," said Brandon Seitz, OED Director. "As the first companies taking advantage of the program begin paying back the loans and the fund builds back up, we will be able to open the program again to new companies for new energy efficiency projects."

H.E.L.P. will have $2 million available at launch. It's anticipated this program will fund anywhere from 5-10 large energy efficiency retrofit projects. Companies with Indiana facilities that are interested in a H.E.L.P. loan must apply online. Program guidelines including eligibility requirements are also available online at http://www.energy.in.gov.

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The Office of Energy Development (OED) was created in December 2005 as an extension of the Indiana energy office. Under the leadership of Lt. Governor Becky Skillman, OED is responsible for the state's energy policy. For more information visit www.energy.in.gov. or follow OED on twitter, IndianaEnergy.

Source: The Office of Energy Development