Minnesota Climate Innovation Finance Authority

Website

mn.gov

Services

In app support

The Minnesota Climate Innovation Finance Authority (MnCIFA) is a dedicated entity focused on advancing Minnesota's clean energy economy through innovative financing solutions. MnCIFA's core function involves providing flexible lending options that strategically fill critical funding gaps and effectively leverage private, nonprofit, and public investments. This approach is designed to accelerate the development and implementation of clean energy projects across the state, ensuring broad community benefits.

MnCIFA offers loans, rather than grants, characterized by flexible repayment options and interest rates tailored to various project factors. Projects seeking financing must demonstrate clear benefits, including energy savings, cost reductions, significant carbon emission reductions, and the maintenance of energy reliability. A minimum loan amount of $250,000 is typically required, with provisions for intermediate financing for portfolio projects or revolving loan funds. Furthermore, MnCIFA emphasizes fair labor practices, requiring that site jobs associated with funded projects are paid at prevailing wage rates.

The authority actively supports a diverse portfolio of clean energy initiatives, such as geothermal district systems and solar portfolios. A particular focus is placed on serving low-income communities, environmental justice communities, and areas impacted by the retirement of fossil fuel electric generating plants. By fostering partnerships and providing essential capital, MnCIFA plays a crucial role in ensuring that all Minnesotans can share in the individual and economic advantages derived from a robust and equitable clean and renewable energy transition.

Locations

• Saint Paul, Minnesota