COLLEGE PARK, Md. — The Maryland Clean Energy Center (MCEC) announced the launch of the Bridge Finance Facility (BFF) to accelerate the development of high-impact solar photovoltaic (PV) projects across Maryland. Capitalized by Maryland Energy Administration’s (MEA) Strategic Energy Investment Fund (SEIF), the BFF will address critical pre-construction and early construction financing gaps for community solar and multifamily affordable housing sites. All projects financed under the $4.5 million facility must serve at least 50% low- and moderate-income Maryland households. An additional $500,000 is allocated for program administration and oversight over the life of the program.
“The Bridge Finance Facility is designed to move projects from concept to construction,” said Katherine Magruder, Executive Director of the Maryland Clean Energy Center. “By providing short-term financing for critical early costs and recycling capital as loans are repaid, MCEC can enable faster adoption of solar generation, resulting in energy cost savings for more Maryland consumers.”
The BFF provides short-term bridge loans (up to 12 months), typically ranging from $500,000 to $1,000,000, to support solar projects as they progress from development through construction. Loan proceeds may be used for eligible pre-construction and early-construction costs, including interconnection applications and deposits, engineering and design, permitting, equipment deposits and procurement, site preparation, and initial construction mobilization.
“Access to timely capital is often a major barrier preventing otherwise viable solar projects from moving forward,” said Kelly Speakes-Backman, Director of the Maryland
Energy Administration. “The Bridge Finance Facility helps close that gap, enabling projects that serve low- and moderate-income Marylanders to get to construction phase, helping Marylanders save money on their utility bills.”
The program supports solar PV projects generally up to 2 megawatts (MW) AC, prioritizing community solar projects and affordable multifamily solar installations to low- and moderate-income households in Maryland. Operating as a revolving fund, the program recycles principal into new loans, maximizing the reach of public spending and private investment into the state.
MCEC will manage the facility with policy oversight from MEA, prioritizing construction-ready solar projects that deliver more than 50% of benefits to LMI. This targeted approach ensures that public funds support projects with a clear path to repayment and immediate community impact.
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