Energy Project and Equipment Financing

The Virginia Resources Authority (VRA), established in 1984, plays a pivotal role in providing financial support to local governments across Virginia, aiming to facilitate a broad range of projects with a focus on energy efficiency and conservation. A significant legislative development occurred in March 2011 when House Bill 2389 was passed, explicitly incorporating “renewable energy” into the spectrum of projects eligible for assistance. Although renewable energy initiatives might have been considered under the broader “energy” category previously, this amendment clearly underscored their importance and eligibility for funding.

VRA extends its financial assistance through several mechanisms, most notably the Virginia Pooled Financing Program and various Revolving Loan Funds, designed to offer flexible and accessible financing options for eligible projects. These programs are tailored to support the development and implementation of renewable energy projects among other initiatives, thereby fostering a more sustainable and energy-efficient future for Virginia’s localities.

Entities interested in exploring these financing opportunities are encouraged to engage with the VRA directly. The authority has made provisions for potential applicants to initiate conversations and seek guidance on the application process through a contact form available on their official website. This direct line of communication with VRA staff is intended to streamline the process of obtaining financial assistance, ensuring that local governments can effectively contribute to Virginia’s renewable energy goals and infrastructure improvements.