Procurement Summary
Country: USA
Summary: Low-Interest Solar and Energy Storage Loan Program
Deadline: 21 Aug 2026
Posting Date: 24 Jul 2026
Other Information
Notice Type: Tender
TOT Ref.No.: 145807466
Document Ref. No.: 2026-RFP-0399
Competition: ICB
Financier: Self Financed
Purchaser Ownership: Public
Tender Value: Refer Document
Purchaser's Detail
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Login to see detailsTender Details
The City of Pasadena, through Pasadena Water and Power (\"PWP\"), is seeking proposals from qualified local banks and credit unions to partner in implementing a Low-Interest Solar and Energy Storage Loan Program. This program will primarily target low-income PWP residential electric customers enrolled in one of PWPs Electric Utility Assistance Programs (e.g., EUAP, CARES, CARES Plus). The Public Benefit Fund will subsidize, or \"buydown, \" each loan to allow the successful Proposing Entity to offer a target interest rate within the range of 0% to 3% APR.Public Benefit Fund Allocation: PWP has tentatively allocated $3, 000, 000 for loan buydowns over three years.Target Participation Goal:PWPs goal is to fund loans for175customers over the programsinitialthree-year period.Optional Component:Proposing Entities are also encouraged to present options for offering similar loans to PWPs regular, non-low incomeelectric customers.
Documents
Tender Notice