Great River Energy’s E3 Commercial Financing Program brings value to communities
Through its Energy Efficiency and Electrification (E3) Commercial Financing Program, Great River Energy provides a stable, affordable financing tool to help member-owner cooperatives and their communities invest in high-efficiency equipment and innovative electrification projects.
The result? Long-term energy savings, economic resilience and measurable carbon reduction.
The E3 Commercial Financing Program is designed specifically for Great River Energy’s member-owner cooperatives to support commercial, industrial and agricultural (CI&A) member projects. The program provides low-interest, fixed-asset financing to facilitate the installation of energy-efficient equipment and support beneficial electrification. This program isn’t just about cutting costs; it’s about accelerating energy innovation and strengthening rural economies in an era of rapid transition.
A critical moment for rural investment
Macroeconomic pressures, higher interest rates, shrinking federal incentives and global energy shifts can create uncertainty for rural businesses. But while other sources of funding may waver, Great River Energy remains a reliable partner.
The E3 program continues to offer below-market interest rates with flexible terms, giving member-owner cooperatives a stable resource to finance the next generation of energy solutions. E3 loans also pair well with other local, state and federal economic development funding programs.
Examples of impactful projects:
- Advanced HVAC systems: Since its inception, the E3 program has supported the installation of advanced indoor climate control technology in CI&A businesses, including a subordinated loan to support the 2019 construction of the Crystal Brook Senior Living Facility in the service area of member-owner Itasca-Mantrap Electric Cooperative in Park Rapids, followed by a second loan when the facility was ready to expand in 2024.
- Manufacturing automation: As Minnesota manufacturers adopt modern process automation technology, Great River Energy has worked with member co-ops like Lake Country Power to provide E3 financing for wood products manufacturers, thermoform plastic molding operations, equipment manufacturers and more.
- Agriculture and food production: E3 program funds can be applied to several different agricultural and food processing operations, with eligible uses including farming facility upgrades, advanced grain drying operations, commercial kitchen equipment and even automated robotic milking systems, as demonstrated by member-owner cooperative Stearns Electric Association and Pike Hills Dairy.
As rural businesses navigate economic headwinds, Great River Energy’s E3 Commercial Financing Program is a lifeline and a launchpad. It empowers cooperatives to provide real value to their members through targeted investments in efficiency and electrification, all while keeping long-term costs down.
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