Florida Opportunity Fund seeks applications for clean energy investment program

The Clean Energy Investment Program, launched by the Florida Opportunity Fund in 2008 with an initial $36 million in funding, is now accepting applications for investment opportunities that advance the adoption of renewable energy and energy-efficiency technology across the State.

The Clean Energy Investment Program will provide qualifying Florida businesses with investments in three primary areas of focus:

• Facility and equipment improvement with energy-efficient and renewable energy (EE/RE) products.

Examples of potential opportunities would include a manufacturing or assembly business upgrading or expanding operations with energy-efficient equipment, a data center converting to energy-efficient servers or cooling units, or a business seeking to retrofit or upgrade its facilities with energy-efficient or renewable energy products and materials.
• Acquisition or demonstration of renewable energy products.

For example, the program would evaluate a business looking to acquire or upgrade a solar or other renewable energy generation system or a technology provider seeking to demonstrate its commercially available renewable energy or energy-efficient products for the first time in Florida.

• Process improvement of existing production, manufacturing, assembly or distribution of operations to increase energy efficiency or reduce consumption.

This could include a warehousing, distribution or storage business implementing activities to conserve energy or streamline operations, an industrial materials company upgrading its water usage and treatment processes to conserve energy and improve the efficiency of existing operations, or an agricultural inputs provider improving excavation or handling processes to increase the energy efficiency of its operations.

“The program is a first of its kind for Florida. Beyond the goal of transforming the State’s energy profile, this is also designed to be a catalyst for jobs,” said Jennifer Dunham of Florida First Partners, manager of the Florida Opportunity Fund. “We expect to see job growth from businesses that integrate or produce energy efficient or renewable energy products and technologies. We also anticipate that companies will be able to expand their operations and become more competitive as a direct result of the achieved cost savings and other efficiencies.”

In evaluating opportunities that apply for the first series of clean energy investments, the Florida Opportunity Fund will consider businesses that have existing operations in Florida, companies with a significant presence in the State or businesses that are establishing Florida operations using EE/RE products, techniques and technology. Florida Opportunity Fund Applicants that show significant reduction in energy consumption or are seeking to implement or demonstrate commercially available energy-efficient or renewable energy products and technologies represent the targeted audience of this program.

The clean energy program is managed by the , one of the primary State-sponsored efforts designed to generate economic growth and long-term funding for an array of strategic programs. The Clean Energy Investment Program received funding this Spring from the Florida Energy and Climate Commission.

“This is a timely program for Florida businesses to access capital for reducing energy consumption, and to stimulate the adoption of clean energy solutions,” said Jim Murley, Chairman of the Commission. The State also hopes to see private investment increase to provide a capital infusion to this emerging industry in Florida.

At a minimum, applicants must be able to demonstrate that a proposed funding opportunity meets the following criteria:

• Applicants must have existing operations or a significant presence in the State of Florida at the time of Program funding, or must establish such presence concurrent with Program funding.
• Applicants must have received capital (whether prior to or concurrent with Program funding) of an amount at least equal to the amount of Program funds being requested.
• The EE/RE products or technology to be implemented using Program funding must be currently commercially available.
• Demonstration projects must comport with applicable state and federal regulations and be the first such demonstration within the State of Florida.

Program funds must be used within the Focus Areas and must be consistent with the activities further described in the Program application. The Program may invest alongside additional private capital that will allow funding for activities beyond those permitted by the Program. The Program will target funding opportunities ranging from $500,000 to $5 million.

Applications for the program are now being accepted. Interested participants should visit the program’s Web site at www.floridaopportunityfund.com to access the application and additional program details.

For more information, visit the program’s Web site – www.floridaopportunityfund.com.

About Valerie J. Amor: As an architectural consultant, LEED AP, LEED certification reviewer, real estate broker and AIA associate, Valerie J. Amor is dynamically engaged in sustainability and issues regarding the built environment. Actively participating in several local, county and national organizations and committees focused on sustainability issues, she is also owner/principal of Drawing Conclusions and founder/president of Green Collar Connection, companies engaged in sustainable design, real estate development, green job training and research. Knowledgeable and well connected she brings you timely and thoughtful articles. Reach her at .

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