AETL Project Implementation

A participating company can implement an Arkansas Energy Technology Loan (AETL) project once loan documents are signed with the Arkansas Energy Office (AEO).   Implementing the project includes several milestones: 

AEO Involvement


 

The level of review and involvement by AEO on any loan will depend on the scope and complexity of the project.  To ensure that the work meets all technical and state requirements, AEO will perform an implementation site visit at least once while the work is in progress. 


 

The AEO will also submit project reports to the Department of Energy (DOE) concerning the project.  The typical monitoring reports generated by AEO will provide a general overview of the energy efficiency measures (EEMs), implementation progress, site activities, issues of budget, schedule, and conformance of the work with the design documents, and any necessary changes in scope or budget.

Reimbursement Process 

 

Reimbursement will be done on paid invoices following the standard rules and processes established in the AEO Policies and Procedures manual.  These procedures will be provided to program participants.  

Loan Repayment

 

AEO will provide an amortization schedule to participating companies based on the incurred loan amount.
  • Loan repayments will begin within sixty days of project completion.


    •  

  • Loan repayments are due quarterly.  For example, the typical borrower with a four-year payback is obligated to repay the loan in sixteen quarterly installments over a four-year period.


    •  

  • The amount of annual loan repayment is based on the energy cost savings projected in the Energy Assessment Report (EAR).  The EAR projected savings are not guaranteed savings.  Therefore, the dollar amount and the number of loan repayments are established in the promissory note and do not vary according to the actual savings.     

Technical Guidance

Project Implementation Forms

Project Reporting

 

Due to utilizing America Recovery and Reinvestment Act (ARRA) funding, the company shall be required to provide the following reports:

1.    Monthly Progress Reports  

 

Monthly reports must be submitted to the AEO no later than the 1st day of the month following the closing of the loan and each month thereafter on the 1st day of the month through duration of the project.  The report should address progress on the project as it relates to the scope of work, budget, timeline, the financial status of the loan and any jobs retained or created through the project.  The summary should also indicate any change in the scope of work or issues that have arisen that alter or delay progress.  Forms will be made available on the AEO website.

2.    Quarterly and Annual Summary Reports

Annual and quarterly summary reports are required if a project runs longer than a quarter or calendar year.  These summaries of the monthly reports shall be submitted to the AEO no later than the 15th day of the month following the end of the quarter or 30 days following the end of the calendar year. Among other items, reports must include:  
  • The total amount of ARRA funds received and the amount spent, including all payments to vendors and sub-recipients;


    •  

  • A list, description and status of all projects and activities funded under ARRA;


    •  

  • Estimates on the number of jobs created or retained through the use of ARRA funds;


    •  

  • Vendor information for vendors receiving payments of $25,000 or more.  Companies and sub-recipients must report the DUNS and Central Contractor Registration (CCR) numbers of the vendor, the amount of payment and a description of the services or goods purchased. A DUNS number is a unique nine-digit identification number issued by Dun & Bradstreet.  The number can be obtained, without charge, from the D&B web site.  Central Contractor Registration (CCR) is the primary contractor database for the US federal government.  CCR collects, validates, stores and disseminates data in support of agency acquisition missions.


    •  

  • Compensation data for only certain companies.  Criteria for reporting compensation is below and will require the names and compensation of the top five officers of the company. If criteria below are not met, the company will not have to report compensation.
    • Names and total compensation of each of the five most highly compensated officers of the company for the calendar year in which the awarded is awarded if in the company’s preceding fiscal year, the company received:
      • 80 percent or more of its annual gross revenues from Federal contracts (and subcontracts), loans, grants (and subgrants) and cooperative agreements;


        •  

      • and $25,000,000 or more in annual gross revenues from Federal contracts (and subcontracts), loans, grants (and subgrants) and cooperative agreements;


        •  

      • and  the public does not have access to information about the compensation of the senior executives through periodic reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue Code of 1986.   

3.    Measurement and Verification Quarterly Reports

For the length of the loan period, a quarterly report of the measurement and verification of savings shall be submitted to the AEO no later than the 15th day of the month following the end of the quarter.

4.    Closing Report

Upon completion of the project, the borrower will submit a Final Completion Report to AEO.

 

  

  • Arkansas Energy Technology Loan Fund

    Now accepting loan applications for industrial energy efficiency and clean technology projects. 
    Read more >>