Energy Efficiency, Sourcing Renewables - March 23, 2021
Organic Valley launches RE financing program for farmers
Organic Valley announced March 2 a new fund that will provide attractive loan terms for farmers looking to invest in renewable energy and energy efficiency initiatives.
The Powering the Good Loan Fund is starting off with $1 million with plans to expand and expects to provide clean energy opportunities for over 1,700 American farmers. The cooperative of organic farmers is partnering with Clean Energy Credit Union on the implementation of these financing opportunities.
“Organic Valley leads on renewable energy. We have been 100% renewable powered in our owned facilities since 2019, and now we are going a step further,” Bob Kirchoff, Organic Valley CEO, said in a statement. “We are focused on a whole systems approach to renewable energy, and I'm excited to debut this energy loan fund. From the farm to the shelf, I see renewable energy playing a bigger role in organic food. We are providing farmers a means to reduce their energy costs and become more self-sufficient and sustainable. Farmers who participate in this loan fund contribute to a healthy, regenerative future for the next generation.”
The loans will be used to grant Organic Valley farmers access to solar electric systems to offset their energy use; efficiency improvements on the farms like plate coolers, VFDs, LED lighting, insulation and ventilation; and geothermal systems and ground source heat pumps for farm heating and cooling.