Capitol Notebook: New group launches to help fund renewable energy projects in Iowa

DES MOINES — A new, nonprofit advocacy organization in Iowa launched this week with the goal of helping to fund efficiency and renewable energy projects in the state.

The Iowa Energy Fund launched as part of U.S. Green Bank 50, which according to a press release is the largest-ever partnership between clean energy-focused state and local green banks.

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Green banks, according to the federal Environmental Protection Agency, are public or nonprofit financing entities that leverage public and private capital to pursue clean energy projects that reduce emissions.

According to the press release, the Iowa Energy Fund was created to ensure Iowa financial institutions, municipalities, and nonprofits have the knowledge, expertise and resources to access federal funds to expand affordable housing, promote expanded business opportunities, and assist Iowa in the transition to clean-energy technologies.

According to Iowa Energy Fund, the federal Inflation Reduction Act put $27 billion into public and nonprofit green banks.

“IEF is proud to serve as a federal clean energy implementation hub for Iowa and help bring resources to low-income and rural Iowans who otherwise could be left out of the clean energy transition,” Iowa Energy Fund President Jason MacDuff said in the press release. “Our organization can bridge the gap between public and private investments to help make more clean energy projects a reality in Iowa, and help meet the moment by ensuring all Iowans benefit from more efficient use and cleaner generation of energy.”

The organization has established a board of directors from across the state, including individuals with experience in banking and credit unions, affordable housing, economic development and energy efficiency. Board members with Eastern Iowa ties include Cedar Rapids City Council member Dale Todd; Stephanie Murphy, executive director of Neighborhood Finance Corporation, which serves Des Moines and Cedar Rapids; Waterloo Housing Authority Executive Director LeKeisha Veasley; and Araceli Vazquez, a community advocate in Columbus Junction.

Reynolds, Naig complete trade trip to India

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Iowa Gov. Kim Reynolds and other state leaders recently completed a 10-day trade mission to India.

Mike Naig, director of the Iowa Department of Agriculture and Land Stewardship; and Debi Durham, director of the Iowa Economic Development Authority, joined Reynolds on the trip.

Reynolds gave remarks at multiple speaking events and participated in roundtable discussions with trade groups, according to a press release from the governor’s office. During the trip, she met with U.S. Ambassador to India Eric Garcetti, Indian Minister for Food Processing Chirag Paswan, Indian Minister of Commerce Piyush Goyal, and Indian Secretary of Agriculture Dr. Devesh Chaturvedi.

Reynolds’ office said during the trip she witnessed memorandums of understanding — formal but non-binding agreements — with the Compound Feed Manufacturers Association, Confederation of Indian Industry, and The Energies and Resources Institute (TERI). PowerPollen, an Iowa-based technological leader in agriculture, signed a letter of intent with VNR Seed of India, the governor’s office said.

“Sixty years after Dr. Norman Borlaug worked with Indian scientists to bring the Green Revolution to the region, Iowa remains ideally suited to helping India feed its growing population and fuel its rapidly expanding economy, while also offering a business-friendly environment for the most innovative Indian companies to invest and expand,” Reynolds said in a press release. “Our trade mission was all about building on this rich history of working together by fostering stronger commercial ties — and I’m confident it will pay off for many years to come.”

Gazette-Lee Des Moines Bureau

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