Metropolitan Edison Company SEF Loans (FirstEnergy Territory)

Summary

FirstEnergy (formerly GPU) established the Metropolitan Edison Company Sustainable Energy Fund in 2000 with an initial contribution of $5.7 million. The fund later received an additional contribution of $2.5 million as a result of the merger between GPU Energy and FirstEnergy, bringing the total to $8.2 million. The fund is administered by the Berks County Community Foundation. The majority of funding available from the Metropolitan Edison Company SEF takes the form of investments made in businesses pursuing one or more of the fund's objectives. These funds typically will be distributed as loans or equity investments. The program is open to any individual, organization, governmental entity, or corporation.

The fund is designed to promote:

• The development and use of renewable energy and clean-energy technologies;
• Energy conservation and efficiency;
• Sustainable-energy businesses; and
• Projects that improve the environment in the companies' service territories, as defined by their relationship to the companies' transmission and distribution facilities.

As identified on the program web site, specific types of projects eligible for loans may include renewable electricity generation projects for on-site use or grid supply; projects involving the development of a sustainable energy technology (e.g., solar panel manufacturing); businesses that use renewable energy in the operation of a business; and businesses that enhance energy efficiency and conservation.

To apply to the fund, applicants should present a Letter of Intent explaining the core technology, management team, market opportunities, and company operations for further evaluation by Community Foundation staffs.

Examples of projects funded in the past are available on the program web site, along with details of the investment guidelines.