Gov. Ted Strickland, D-Ohio, has launched the Ohio Energy Gateway Fund, a public-private partnership that will expand access to capital in order to grow and sustain the wind, fuel cell, solar and energy-storage industries in Ohio.
The fund, established through a partnership between Ohio Department of Development Director Lisa Patt-McDaniel and Mark Shanahan, energy adviser to Strickland and executive director of the Ohio Air Quality Development Authority, includes a $40 million commitment of advanced energy funds from the Ohio Bipartisan Job Stimulus Plan and federal American Recovery and Reinvestment Act State Energy Program.
The $40 million in state and federal resources is expected to leverage at least $40 million in additional funding through a partnership with private capital resources.
‘This public-private partnership will connect advanced energy companies with the resources they need to make long-term investments in Ohio and expand job opportunities for working people,’ says Strickland.
The goal of the Ohio Energy Gateway Fund is to drive job creation and growth in both the primary and supplier network of Ohio's advanced energy sector.
The Ohio Department of Development and the Ohio Air Quality Development Authority have released a request for proposals (RFP) to solicit Ohio and national energy investment managers to partner with the state of Ohio and bring additional private resources to the table. The fund will be initiated once an investment manager is selected.
Projects will involve already commercialized technology that can be moved quickly to production or utilization, with an emphasis on the development of the advanced energy supply chain and the manufacturing sectors.
Information about the RFP is available online at development.ohio.gov.
SOURCE: Office of Gov. Ted Strickland
