Powering Affordable Reliable Technology Energy Program

The PART Program is to support affordable energy growth across America. The PART Program provides loans to eligible entities, with a level of loan forgiveness, for Projects that generate and/or store electricity from an eligible Renewable Energy Resource or Renewable Energy Source (RER).

RUS will evaluate the LOIs based on on the criteria provided in 7 CFR part 1710 subpart D and will assess the following: (1) Financial coverage ratios. The Administrator may set financial coverage ratios based on the risk profile of the PART Applicant and specific loan terms. Those financial ratios will be included in the PART borrower�s loan documents with RUS. RUS Borrowers will be subject to their current debt service coverage ratios in their current loan documents, unless notified otherwise. (2) Financial Equity Requirements. As noted in Section 3.2 of this notice, RUS will require the Awardee to provide at least 25% equity in the Project for PART Project loans. However, the Administrator may consider requests to waive the 25% financial equity requirement for PART Awards where the Project will serve areas covered under SUTA. System Loans that provided RUS with a perfected senior lien on all assets of the PART Applicant will not have an equity requirement. The required financial equity position will be set forth in the Commitment Letter and the loan documents as a condition to the PART loan. RUS may consider allowing the Awardee to meet the financial equity requirements by utilizing any appliable direct payments or tax credits relating to the Project as provided in Internal Revenue Code of 1986 and its implementing regulations. If the Administrator allows a PART Applicant to meet the financial equity requirement by utilizing applicable tax credits or direct payments...

Project loans require at least 25% equity/matching unless covered by agency discretion as explain in the NOFO. See NOFO for further details and for information about system loans.

Fiscal year 2025: This program has funded dozens of energy storage systems, new generation capacity, and transmission system improvements.