The Environmental Protection Agency is seeking applications for its National Clean Investment Fund (NCIF) Competition.
Donor Name: Environmental Protection Agency
State: All States
County: All Counties
Type of Grant: Grant
Deadline: 10/12/2023
Size of the Grant: $13.97 billion
Grant Duration: 7 years
Details:
This Notice of Funding Opportunity provides details on the $14 billion National Clean Investment Fund competition. This competition will provide grants to 2–3 national nonprofit financing entities to create national clean financing institutions capable of partnering with the private sector to provide accessible, affordable financing for tens of thousands of clean technology projects nationwide.These national nonprofits will provide financing to individuals and families, nonprofit organizations, for-profit businesses (especially small businesses), units of government, and others deploying these projects, which will reduce pollution while creating jobs, accelerating progress toward energy security, and lowering energy costs. These national nonprofits will also provide capital to community lenders and other similar institutions so that they can, in turn, provide financing to the communities that they serve. To multiply the impact of public funds, these national nonprofit financing entities will mobilize private capital as they finance these projects, ensuring that every dollar of public funds generates several times more private-sector investment into emissions- and air pollution-reducing projects. To ensure that public funds are spent efficiently and for the maximum benefit of American communities, especially low-income and disadvantaged communities, these national nonprofit financing entities will be subject to, among other measures, rigorous community engagement and accountability strategies; comprehensive equity policies and practices; robust labor and workforce plans; strong governance structures; stringent legal and compliance risk management, financial risk management, and consumer protection plans; and cohesive programmatic, financial, and administrative reporting and transparency requirements.
GGRF Program Objectives
The Clean Communities Investment Accelerator will advance the three GGRF program objectives of reducing emissions of greenhouse gases and other air pollutants; delivering benefits to American communities, particularly low-income and disadvantaged communities; and mobilizing financing and private capital
- Program Objective 1: Reduce emissions of greenhouse gases and other air pollutants. Grantees will provide capital for community lenders to invest and re-invest in projects, activities, and technologies that reduce emissions of greenhouse gases and other air pollutants that harm communities and contribute to climate change. Grantees—and the community lenders they support—will accelerate progress toward the climate goals of the United States, including reducing greenhouse gas emissions 50-52 percent below 2005 levels in 2030, reaching 50 percent zero-emission vehicles share of all new passenger cars and light trucks sold in 2030, achieving a carbon pollution-free electricity sector by 2035, and achieving net-zero emissions by no later than 2050
- Program Objective 2: Deliver benefits of greenhouse gas- and air pollution-reducing projects to American communities, particularly low-income and disadvantaged communities. Grantees will ensure that the projects that community lenders invest in directly benefit Americans by improving health outcomes, lowering energy costs, creating high-quality jobs, and more. 100% of funds awarded under this competition must be used for the purposes of providing financial and technical assistance in low-income and disadvantaged communities
- Program Objective 3: Mobilize financing and private capital to stimulate additional deployment of greenhouse gas- and air pollution-reducing projects. Grantees will work with community lenders to mobilize financing and private capital for underinvested projects and underinvested communities, which will build the long-term capacity of community lenders to finance clean technology projects in low-income and disadvantaged communities. As a result, grantees will spur market transformation, supporting market wide accessibility of affordable financing for clean technology projects to multiply the impact of grant funds.
Funding Information
There is no minimum or maximum award amount for this competition, subject to EPA’s initial estimate that $13.97 billion will be available for funding under this competition.
Period of Performance
EPA anticipates that programs funded under this opportunity will start by July 2024. All expenditures and disbursements with the grant award funds must be made within the negotiated period of performance of up to 7 years.
Eligibility Criteria
Consistent with the Clean Air Act, an applicant that is eligible to receive a grant under the National Clean Investment Fund competition must be an “eligible recipient,” which is an organization that: is a nonprofit; is designed to provide capital, leverage private capital, and provide other forms of financial assistance for the rapid deployment of low- and zero-emission products, technologies, and services; does not take deposits other than deposits from repayments and other revenue received from financial assistance provided using grant funds under this program; is funded by public or charitable contributions; and invests in or finances projects alone or in conjunction with other investors.
For more information, visit Grants.gov.
