FR 60-Day PRA Notice

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accordance with 40 U.S.C. 31, sections
3141 through 3144, 3146, and 3147.
6. Federal Funding Accountability
and Transparency Act. All Applicants,
in accordance with 2 CFR part 25, must
be registered in SAM and have a UEI
number as stated in Section D.3 of this
notice. All recipients of Federal
financial assistance are required to
report information about first-tier subawards and executive total
compensation in accordance with 2 CFR
part 170.
7. Civil Rights Act. All grants made
under this notice are subject to Title VI
of the Civil Rights Act of 1964 as
required by the USDA in 7 CFR part 15,
subpart A (eCFR:: 7 CFR part 15 Subpart
A—Nondiscrimination in FederallyAssisted Programs of the Department of
Agriculture—Effectuation of Title VI of
the Civil Rights Act of 1964) and section
504 of the Rehabilitation Act of 1973,
Title VIII of the Civil Rights Act of 1968,
Title IX, Executive Order 13166
(Limited English Proficiency), Executive
Order 11246, and the Equal Credit
Opportunity Act of 1974.
8. Nondiscrimination Statement. In
accordance with Federal civil rights
laws and U.S. Department of
Agriculture (USDA) civil rights
regulations and policies, the USDA, its
Mission Areas, agencies, staff offices,
employees, and institutions
participating in or administering USDA
programs are prohibited from
discriminating based on race, color,
national origin, religion, sex, gender
identity (including gender expression),
sexual orientation, disability, age,
marital status, family/parental status,
income derived from a public assistance
program, political beliefs, or reprisal or
retaliation for prior civil rights activity,
in any program or activity conducted or
funded by USDA (not all bases apply to
all programs). Remedies and complaint
filing deadlines vary by program or
incident.
Program information may be made
available in languages other than
English. Persons with disabilities who
require alternative means of
communication to obtain program
information (e.g., Braille, large print,
audiotape, American Sign Language)
should contact the responsible Mission
Area, agency, or staff office; the USDA
TARGET Center at (202) 720–2600
(voice and TTY); or the 711 Relay
Service.
To file a program discrimination
complaint, a complainant should
complete a Form AD–3027, USDA
Program Discrimination Complaint
Form, which can be obtained online at
https://www.usda.gov/oascr/programdiscrimination-complaint-filing, from

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any USDA office, by calling (866) 632–
9992, or by writing a letter addressed to
USDA. The letter must contain the
complainant’s name, address, telephone
number, and a written description of the
alleged discriminatory action in
sufficient detail to inform the Assistant
Secretary for Civil Rights (ASCR) about
the nature and date of an alleged civil
rights violation.
The completed AD–3027 form or
letter must be submitted to USDA by:
(1) Mail: U.S. Department of
Agriculture, Office of the Assistant
Secretary for Civil Rights, 1400
Independence Avenue SW, Washington,
DC 20250–9410; or
(2) Fax: (833) 256–1665 or (202) 690–
7442; or
(3) Email: [email protected].
USDA is an equal opportunity
provider, employer, and lender.
Andrew Berke,
Administrator, Rural Utilities Service, USDA
Rural Development.
[FR Doc. 2023–10392 Filed 5–15–23; 8:45 am]
BILLING CODE 3410–15–P

DEPARTMENT OF AGRICULTURE
Rural Utilities Service
[Docket#: RUS–23–ELECTRIC–0003]

Notice of Funding Opportunity for the
Powering Affordable Clean Energy
(PACE) Program
Rural Utilities Service, USDA.
Notice.

AGENCY:
ACTION:

The Rural Utilities Service
(RUS or the Agency), a Rural
Development (RD) Agency of the United
States Department of Agriculture
(USDA), is soliciting Letters of Interest
(LOI) for loan Applications, announcing
the Application process for those loans,
and providing deadlines for
Applications from eligible entities
under the Powering Affordable Clean
Energy (PACE) Program. These loan
funds will be made to qualified PACE
Applicants to finance power generation
Projects for Renewable Energy Resource
(RER) systems or Energy Storage
Systems (ESS) that support RER
Projects. The PACE Program has
$1,000,000,000 available in
appropriated funds under the Inflation
Reduction Act of 2022 (IRA).
DATES: Letters of Interest (LOIs) can be
submitted beginning at 11:59 a.m.
Eastern Time (ET) on June 30, 2023,
until 11:59 a.m. ET September 29, 2023.
An applicant that is invited by RUS
to proceed with the loan Application
will have 60 days, or a time agreeable
SUMMARY:

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to the Agency, to complete and submit
a loan Application beginning from the
date the Invitation to Proceed is emailed
to the PACE Applicant. If the deadline
to submit the completed Application
falls on Saturday, Sunday, or a Federal
holiday, the Application is due the next
business day. RUS reserves the right, in
its sole discretion, to extend the
deadline upon the written request of the
applicant if the applicant demonstrates
to the satisfaction of the Administrator
that exceptional circumstances exist to
warrant the extension.
ADDRESSES:
Letters of Interest (LOI) Submissions.
All LOIs must be submitted to RUS
electronically through an on-line
application window. The Agency will
finalize the specific requirements of
submitting the LOI through the on-line
application window by notice in the
Federal Register and the RUS website at
https://www.rd.usda.gov/programsservices/electric-programs/poweringaffordable-clean-energy-pace-program
on or before June 30, 2023.
Application Submissions. LOI
submitters chosen to proceed with the
loan Application must submit a
completed loan Application package in
accordance with the instructions
provided in the RUS’ Invitation to
Proceed.
Other information. Additional
information and resources are available
at https://www.rd.usda.gov/programsservices/electric-programs/poweringaffordable-clean-energy-pace-program.
Information on IRA Funding for RD is
located at the following website: https://
www.rd.usda.gov/inflation-reductionact#fn.
FOR FURTHER INFORMATION CONTACT:
Christopher A. McLean, Assistant
Administrator, Electric Program, RUS,
RD, USDA, 1400 Independence Avenue
SW, STOP 1568, Washington, DC
20250–1560; Telephone: 202–690–4492;
Email: SM.RD.RUS.IRA.Questions@
usda.gov.
SUPPLEMENTARY INFORMATION:
Overview
Federal Awarding Agency Name:
Rural Utilities Service (RUS).
Funding Opportunity Title: Powering
Affordable Clean Energy (PACE)
Program.
Announcement Type: Notice of
Funding Opportunity (NOFO).
Assistance Listing: 10.757.
Dates: Letters of Interest (LOIs) can be
submitted beginning at 11:59 a.m.
Eastern Time (ET) on June 30, 2023
until 11:59 a.m. ET September 29, 2023.
An applicant that is invited by RUS
to proceed with the loan Application

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Federal Register / Vol. 88, No. 94 / Tuesday, May 16, 2023 / Notices
will have 60 days, or within a time
agreeable to the Agency to complete and
submit a loan Application beginning
from the date the Invitation to Proceed
is emailed to the PACE Applicant. If the
deadline to submit the completed
Application falls on Saturday, Sunday,
or a Federal holiday, the Application is
due the next business day. RUS reserves
the right, in its sole discretion, to extend
the deadline upon the written request of
the applicant if the applicant
demonstrates to the satisfaction of the
Administrator that exceptional
circumstances exist to warrant the
extension.
Rural Development Key Priorities: The
Agency encourages applicants to
consider projects that will advance the
following key priorities:
• Assisting rural communities to
recover economically through more and
better market opportunities and through
improved infrastructure;
• Ensuring all rural residents have
equitable access to Rural Development
(RD) programs and benefits from RD
funded projects; and
• Reducing climate pollution and
increasing resilience to the impacts of
climate change through economic
support to rural communities.

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A. Program Description
1. Purpose of the Program. The IRA
contains many transformative
provisions. Importantly, it makes the
largest investment in clean energy in
U.S. history, allowing communities that
have previously been left out of the
clean energy economy to access
affordable, reliable, and clean energy.
The IRA also marks the largest
investment in rural electrification since
the 1930s, providing unique
opportunities to advance economic
development and quality of life in rural
communities. The Biden-Harris
Administration has prioritized these
initiatives, elevating the role of
infrastructure and the needs of rural
America in its policies and their
implementation.
The goal of the PACE Program is to
support clean, affordable energy growth
across America. The PACE Program
provides loans to eligible entities, with
varying levels of loan forgiveness, for
Projects that generate and/or store
electricity from RER.
2. Statutory and Regulatory Authority.
PACE is authorized under Section
22001 of the Inflation Reduction Act,
(IRA) Public Law 117–169 (IRA). Other
Federal statutes and regulations that
apply to this notice are: Section 317 of
the Rural Electrification Act of 1936, 7
U.S.C. 940g (RE Act), 7 U.S.C. 8103, 7

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CFR parts 1700–1730, 1767, 1773, and
1787, and 7 CFR part 1970.
The PACE Program is to be carried out
by the RUS pursuant to Section 22001
of the IRA. Section 22001 of the IRA
amends Section 9003 of the Farm
Security and Rural Investment Act of
2002 by adding new subsection (h).
Section 22001 of the IRA provides RUS
with $1,000,000,000 in appropriated
funds ‘‘for the cost of loans under
Section 317 of the RE Act.’’
Additionally, Section 22001 of the IRA
provides that PACE funds may be
utilized to finance Projects that store
electricity generated from eligible
renewable energy sources listed under
Section 317 of the RE Act. These Project
Loans or System Loans will be forgiven
up to 50 percent, or more under certain
circumstances, provided the Awardee
and the Project otherwise meet the term
and conditions of the loan forgiveness.
Pursuant to Section 317(b) of the RE
Act, loans shall be made for the purpose
of constructing electric generation from
renewable energy sources. Section
22001 of the IRA also provides that loan
funds may be utilized for Projects that
store electricity for such generation
facilities. Further, Section 317(b)
requires that the power generated from
the eligible renewable energy source be
for resale to rural and nonrural
residents. Lastly, Section 317(c) requires
that the rate of a loan shall be equal to
the average tax-exempt municipal rate
of similar maturities.
3. Definitions. The definitions
applicable to this notice are as follows:
Administrator. The Administrator of
the RUS, an agency under the RD
mission area of the USDA.
Agency. The Rural Utilities Service
(RUS).
Application. An application
containing all information required by
RUS as identified in the Invitation to
Proceed. The application is materially
complete in form and substance
satisfactory to RUS within the specified
time.
Award. The financial assistance
offered to a PACE Applicant.
Awardee. An entity that has been
awarded a PACE Award.
Commercially Available Technology.
Equipment, devices, applications, or
systems that have a proven, reliable
performance, and replicable operating
history specific to the proposed
application. The equipment, device,
application, or system is based on
established patented design or has been
certified by an industry-recognized
organization and subject to installation,
operating, and maintenance procedures
generally accepted by industry practices
and standards. Service and replacement

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parts for the equipment, device,
application, or system must be readily
available in the marketplace with
established warranty applicable to parts,
labor, and performance.
Commitment Letter. The notification
issued by the Administrator to a PACE
Applicant containing the total Award
amount, the acceptable security
arrangement, the proposed level of loan
forgiveness, and such controls and
conditions on the PACE Awardee’s
financial, investment, operational and
managerial activities deemed necessary
by the Administrator to adequately
secure the Government’s interest. This
notification will also describe the
accounting standards and audit
requirements applicable to the Award.
Community Benefit Plan. The PACE
Applicant’s explanation as to how the
Project will benefit the residents of the
service area identified in the
Application.
Distressed and Disadvantaged
Communities. A Disadvantaged
Community is determined by the
Agency by using the Council on
Environmental Quality’s Climate and
Economic Justice Screening Tool (which
is incorporated into the USDA look-up
map) which identifies communities
burdened by climate change and
environmental injustice. Distressed
Community is determined by the
Agency by using the Economic
Innovation Group’s Distressed
Communities Index (which is
incorporated into the USDA look-up
map), which uses several socioeconomic measures to identify
communities with low economic wellbeing. To determine if your Project is
located in a Disadvantaged Community
or a Distressed Community, please use
the following USDA look-up map:
https://ruraldevelopment.
maps.arcgis.com/apps/webappviewer/
index.html?id=4acf083
be4c44bb7864d90f97de0c788.
Energy Community. A community as
defined by the Department of Treasury
and the Internal Revenue Service at
https://www.irs.gov/pub/irs-drop/n-2329.pdf or through future governmental
guidance.
Energy Storage System (ESS). A
facility capable of accepting energy,
storing the energy for a period of time,
and then later releasing the stored
energy in support of a Renewable
Energy Resource (RER).
Environmental Attributes. All
financial attributes that are created or
otherwise arise from the Project’s
generation of electricity from a
renewable or zero emission energy
system that include but are not limited
to, any environmental air quality

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credits, green credits, renewable energy
credits (RECs), carbon credits, emissions
reduction credits, emission rate credits,
certificates, tags, offsets, allowances, etc.
Environmental and Historic
Preservation Requirements. The
National Environmental Policy Act of
1969, as amended (NEPA) (42 U.S.C
4321, et seq.), Section 7 of the
Endangered Species Act (16 U.S.C. 1531
et seq.), and Section 106 of the National
Historic Preservation Act (NHPA)(54
U.S.C. 300101 et seq.), as well as their
implementing regulations at 7 CFR part
1970, Environmental Policies and
Procedures (including Farmland
Protection Policy Act Implementation
Policy), 50 CFR part 402, Interagency
Cooperation, and 36 CFR part 800,
Protection of Historic Properties.
Financial Feasibility. An eligible
entity’s ability as determined by the
Administrator to generate sufficient
revenues to cover its expenses,
sufficient cash flow to service its debts
and obligations as they come due, and
meet the financial ratios set forth in the
applicable loan documents.
Indian Tribe. The term ‘‘Indian Tribe’’
has the meaning given the term in 25
U.S.C 5304.
Invitation to Proceed. A written
notification issued by RUS to the
applicant acknowledging that the Letter
of Interest (LOI) was received and
reviewed and inviting the applicant to
submit an Application. The notification
also provides the applicant instructions
on how to submit the loan Application
package and details of the next steps in
the Application process.
Letter of Interest (LOI). An
electronically signed submission made
through the RUS window completed by
an eligible entity notifying RUS of its
intent to apply for a loan and addressing
all the elements identified in Section
D.2(a) of this notice.
Non-Federal Entities. As defined in 2
CFR 200.1, Non-Federal Entities are
States, local governments, Indian Tribes,
institutions of higher education (IHE), or
nonprofit organizations. The definition
of what constitutes a non-profit is also
located in 2 CFR 200.1.
Off-Taker. Shall mean: (1) the
customers or members of the PACE
Applicant that purchase and receive the
electrical power and energy from the
PACE Applicant; or (2) the entity that
has or will execute a Power Purchase
Agreement (PPA) with the PACE
Applicant to purchase and receive
electrical capacity and associated energy
produced by the Project. The Off-Taker
may also be referred to in the PPA as the
‘‘Buyer’’, ‘‘Customer’’, ‘‘Purchaser’’ or
another name that describes the entity
purchasing the power.

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Power Purchase Agreement (PPA). A
binding agreement executed between
the PACE Applicant and an Off-Taker
under which the Off-Taker agrees to
purchase and receive from the PACE
Applicant the electrical capacity and
associated energy produced by the
Project at a pre-determined price and
term. The PPA may include other
transactions such as the selling and
purchasing of Environmental Attributes
or ancillary services (e.g., voltage
regulation and synchronization,
contingency reserves).
Powering Affordable Clean Energy
(PACE) Applicant. An eligible entity
that has submitted an Application
pursuant to an Invitation to Proceed.
Project. New facilities constructed
after the effective date of the IRA and
compliant with all other applicable
requirements of this notice used to
generate electricity from an RER, and/or
to store electricity that support the types
of RERs that are eligible to be financed
with PACE Program loan funds, as
provided in Section 22001 of the IRA
and Section 317 of the RE Act, which
will result in the deployment of
renewable energy generation or storage
capacity.
Project Loans. A PACE Award secured
by a security interest in the assets and
revenues of the Project and supporting
credit enhancements relating to the
Project rather than by a security interest
in all of the assets of the PACE
Applicant’s electric utility system. Any
PACE Award to a PACE Applicant that
is not a current operating utility shall be
a Project Loan.
Renewable Energy Resource or
Renewable Energy Source (RER). An
energy conversion system fueled from a
solar, wind, hydropower, biomass, or
geothermal source of energy as defined
in Section 317(a) of the RE Act.
Rural Area. A rural area shall mean:
(a) Any area other than a city, town,
or unincorporated area that has a
population of greater than 20,000
inhabitants. or
(b) Service areas of current RUS
Borrowers or former RUS and Rural
Electrification Act (REA) borrowers
which will be deemed rural for the
purposes of their Applications.
Rural Partners Network (RPN). The
RPN is an alliance of Federal agencies
and commissions working directly with
rural communities to expand rural
prosperity through job creation,
infrastructure development, and
community improvement.
RUS Borrower. A current RUS
borrower under the RE Act.
Secretary. The Secretary of the United
States Department of Agriculture.

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Substantially Underserved Trust Area
(SUTA). An area defined under Section
306F of the RE Act.
System Loans. PACE Awards secured
through a senior security interest in all
assets of the PACE Applicant, which
must be a currently operating electric
utility.
4. Application of Awards. LOIs will
be queued as they are received and
reviewed on rolling basis in the order
they are received. The Agency will
review and evaluate LOIs based on the
criteria found in Section E.1(a) of this
notice. Upon review of the LOI, RUS
may issue an Invitation to Proceed to
the applicant. The Agency will review
the loan Application and evaluate it
based on the criteria found in Section
E.1(b) of this notice. The Agency advises
all interested parties that the applicant
bears the full burden in preparing and
submitting an LOI, as well as its
Application submission as a PACE
Applicant, in response to this notice.
B. Federal Award Information
1. Type of Award: Loan & Loan
Forgiveness.
2. Fiscal Year Funds: 2023 & 2024.
3. Available Funds: Total
appropriated amount of $1 billion in
appropriated funds through September
30, 2031. However, based on projected
subsidy rates, RUS expects to have
approximately $2.7 billion available to
lend for the PACE Program. There will
be a minimum of $300 million of
appropriated funds committed to each
category outlined in this Section of the
notice.
RUS may, at its discretion, increase
the total level of funding available in
this funding round or in any category in
this funding round from any available
source provided the Awards meet the
requirements of the statute which made
the funding available to the Agency.
4. Award Amounts: The maximum
loan amount, inclusive of the forgivable
portion, of any individual Award is
limited to $100,000,000. The minimum
amount of any individual Award is
$1,000,000.
5. Loan Type: RUS will offer both
Project Loans and System Loans as
described below.
(a) Project Loans. This loan type
applies to applicants that are not
eligible for, or have decided not to
pursue, a System Loan. Project Loans
will be used to finance specific eligible
Projects where the Award will be
secured through a senior security
interest on the Project’s assets and the
revenues generated from the Project’s
assets. A Project may also require the
Awardee to commit additional cash
reserves. Further, to the extent that a

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PPA is in place with respect to the
Project’s assets, the Awardee must
collaterally assign the PPA to RUS as
security, with the Off-Taker’s consent to
such assignment. The Administrator
may consider tax credits or direct
payments in lieu of tax credits the
Awardee receives under the Internal
Revenue Code when calculating equity
investment requirements for a PACE
Applicant’s proposed Project. If the
Administrator allows a PACE Applicant
to meet the financial equity requirement
by utilizing applicable tax benefits, the
Administrator may require additional
credit support from the PACE Applicant
pending the PACE Applicant’s receipt of
the tax benefit. Further, the Agency may
utilize its authority under Section 306F
of the RE Act and finance up to 100%
of the cost of Projects benefitting SUTA
areas. Project Award funds will only be
released after commercial operation of
the Project is commenced and RUS has
confirmed that the Awardee has
satisfied all other conditions specified
in the Award.
(b) System Loans. System Loans are
only available to currently operating
electric utilities. The PACE Applicant
will provide, if it has not already
provided, RUS with a perfected senior
lien on all of its existing assets, both real
and personal, including intangible
personal property, as well as afteracquired property. At the
Administrator’s discretion, PACE
Applicants which are generation and
transmission suppliers may be
permitted to secure a System Loan
through an indenture, provided that
RUS is granted a perfected senior
security interest in all its assets by the
trustee. System Loans may finance
100% of the Project costs included in an
Application. At the discretion of the
Administrator, System Loan funds can
be released to finance Projects for costs
incurred during construction of the
facilities; however, loan forgiveness will
not occur until the Project has been
completed and RUS has confirmed that
the Awardee has satisfied all other
conditions specified in the Award.
6. Loan Forgiveness Categories: The
following percentages shall be forgiven
on Awards meeting the requirements
outlined in Sections E and F of this
notice. RUS will initially allocate a
minimum of $300 million to each
category.
(a) Category I. Up to 20 percent total
loan forgiveness;
(b) Category II. Up to 40 percent total
loan forgiveness if 50 percent or more of
the population served by the proposed
service area is located within the
following areas:
(1) Energy Communities; or

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(2) Distressed or Disadvantaged
Communities.
(c) Category III. Up to 60 percent total
loan forgiveness if:
(1) The proposed service area is
located in Puerto Rico, United States
Virgin Islands (USVI), Guam, American
Samoa or other U.S. territories or
Compact of Free Association (COFA)
states; or
(2) The proposed service area consists
of 60 percent or more of a Tribal area
or serves an area that constitutes a
SUTA; or
(3) The Project is owned by an Indian
Tribe defined by the Federally
Recognized Indian Tribe List Act of
1994 (Pub. L. 103–454; 108 Stat. 4791,
4792), including their wholly owned
arms and instrumentalities, or an Alaska
Native Corporation, including regional
or village corporations, as defined under
or established pursuant to the Alaska
Native Claims Settlement Act (Pub. L.
104–42; 85 State. 688).
7. Anticipated Award Date: From
September 2023 to December 2025.
8. Performance Period: Five (5) years
from the date of environmental
clearance, but no later than September
30, 2031.
9. Use of other governmental funds:
The Agency will generally allow the
Awardee to combine the incentives
contained in this notice with other
governmental benefits, provided such
combinations are otherwise permitted
by law or regulation.
10. Renewal or Supplemental Awards:
None.
11. Type of Assistance Instrument:
Loan Agreement.
C. Eligibility Information
1. Eligible Applicants. RUS will
accept LOIs and Applications from
entities as described below:
(a) For-profit organizations.
(b) State or local governments.
(c) Indian Tribes defined by the
Federally Recognized Indian Tribe List
Act of 1994 (Pub. L. 103–454; 108 Stat.
4791, 4792), including their wholly
arms and instrumentalities.
(d) Alaska Native Corporations,
including regional or village
corporations as defined under or
established pursuant to the Alaska
Native Claims Settlement Act (Pub. L.
104–42; 85 State. 688)
(e) Nonprofits.
(f) Institutions of higher education.
(g) Community-based organizations,
distribution electric cooperatives, and
generation and transmission electric
cooperatives.
LOIs and Applications from any
entity in the above categories will be
evaluated for funding. Where applicable

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and possible, applicants are encouraged
to work with Distressed and
Disadvantaged Communities, Energy
Communities, Puerto Rico, the United
States Virgin Islands (USVI), Guam,
American Samoa or other U.S.
territories or Compact of Free
Association (COFA) states, tribal
entities, and RPN communities.
2. Cost Sharing and Matching.
(a) Project Loans. Awards will finance
up to 75% of the total capitalized costs
of a Project. Awardees will be required
to provide at least 25% of the Project’s
total capitalized cost in the form of cash
or equity investments, which may not
be derived from debt instruments.
(b) System Loans. PACE System Loans
may cover 100% of the total costs of the
Project.
3. Other.
(a) Eligible Service Areas.
(1) Electricity generated or stored
from facilities shall be provided to
‘‘rural and nonrural residents’’ in
eligible service areas.
(2) Rural Percentage of the Service
Territory. The rural percentage will be
calculated at the applicant’s choosing by
either:
(i) The population located in the
Rural Areas of a service territory versus
the total population of the entire service
territory; or
(ii) Meters served in the Rural Areas
of a service territory versus meters
served in the entire service territory.
For the purpose of this notice, the
minimum rural percentage by the
chosen methodology must be at least 50
percent, unless waived by the
Administrator based upon a showing
that there exist social equity
considerations, such as SUTA,
significant energy burdens, severe
economic needs, or substantial added
benefits to rural consumers.
(3) Rural Determination. If the PACE
Applicant is not a RUS Borrower, a rural
determination will be conducted by
RUS in order to:
(i) Identify the service territory where
electricity from the facilities to be
financed by PACE Award would be
delivered and consumed; and
(ii) Further identify those areas within
the service territory that are rural.
(b) Project Eligibility.
(1) Projects can be developed by
eligible applicants developing new
renewable power generation from RER
and ESS for use by Off-Takers through
a PPA or a financial guarantee that
ensures Financial Feasibility.
(2) New facilities that generate
electricity from an RER, including
facilities that store electricity that
support such assets. However, RUS will
not approve facilities that violate the

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terms of a PACE Applicant’s existing
wholesale power contract.
(3) New linear facilities, including
microgrids, and equipment that are
necessary to operate the Project
including, but not limited to,
transmission or distribution facilities
that are needed to export, transmit, and
deliver power from the generating
facility to the Off-Taker.
(4) The upgrading of existing linear
facilities and equipment that are
necessary to operate the Project
including, but not limited to,
transmission or distribution facilities
that are needed to export, transmit, and
deliver power from the generating
facility to the Off-Taker.
(5) The Project may include one or
more RERs and/or ESSs.
(6) Facilities may be co-located to
operate interconnectedly or
independently or constructed at
separate sites.
(7) RERs and ESSs must be installed
so that the RER can provide energy and
any ancillary services for resale to rural
and nonrural residents located in
eligible service areas.
(8) Applicants can request
interconnection and other costs
associated with being able to deliver the
RER and/or the ESS to Off-Takers,
including related microgrid
investments. Successful applicants may
also recover a portion of their
capitalizable pre-application costs
pursuant to 7 CFR part 1767 and this
notice.
(9) Applicant may include in its loan
Application the costs specified in 7 CFR
1710.106, including interest during
construction (IDC) pursuant to 7 CFR
1710.106(a)(4).
D. Application and Submission
Information
1. Address to Request Application
Package. The Agency will finalize the
on-line application window by notice in
the Federal Register on or before June
30, 2023. The PACE Program
Application Guide and copies of
necessary forms and samples will
become available at https://
www.rd.usda.gov/programs-services/
electric-programs/powering-affordableclean-energy-pace-program. If you
require alternative means of
communication for program information
(e.g., Braille, large print, audiotape)
please contact USDA’s TARGET Center
at (202) 720–2600 (voice and TDD) or
the 711 Relay Service.
2. Content and Form of Application
Submission.
(a) Letter of Interest (LOI) Submission.
The LOI must include the information
as listed below in this Section. LOI

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submitters should be aware that the
final Application will require more
information as included in Section
D.2(b) of this notice.
(1) LOI submitter’s profile and point
of contact information.
(i) Legal name and status of the LOI
submitter.
(ii) The LOI submitter’s address and
principal place of business.
(iii) The LOI submitter’s tax
identification number and its Unique
Entity Identifier (UEI) number from the
System for Award Management (SAM)
registry.
(iv) Legal structure of LOI submitter
(e.g., cooperative, corporation, limitedliability company, State or local
government entity, municipality,
federally recognized Tribe). If the
applicant is a non-governmental entity,
a statement as to whether the entity is
organized as a non-profit.
(v) If the LOI submitter is a State or
local governmental entity, a certification
that it can enter into contracts with the
Federal government, incur debt, and
provide security for such debt. Federal
government entities are not eligible for
financing.
(vi) Name and title of LOI submitter’s
manager and/or point of contact, which
must include general contact
information, as well as an email address
to receive RUS’ Invitation to Proceed.
(vii) The location of the Project and
the applicable service area using a
digital Shapefile. The applicable service
area must demonstrate that the Project
will provide economical clean energy to
rural residents as outlined in Section
C.3(a) of this notice.
(viii) The LOI submitter’s net assets
value.
(ix) A certification as to whether the
LOI submitter over the last 10 years has
been placed in receivership liquidation,
has been under a workout agreement,
has declared bankruptcy, or has had a
decree or order issued for relief in any
bankruptcy, insolvency, or other similar
action.
(x) A statement as to whether the
Project(s) will serve a SUTA area as
defined in Section A.3 of this notice.
(2) Financial Information. A copy of
the LOI submitter’s balance sheet and
income statements for the shorter of the
last three years or the years the LOI
submitter has been in operation. If the
LOI submitter has no operating history,
the LOI submitter must provide RUS
with information RUS deems necessary
to evaluate the financial strength of the
LOI submitter. The LOI submitter must
also provide the balance sheet and
income statements for the last three
years of any entity or entities providing
equity or security for the loan, with an

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explanation of the legal relationship to
the LOI submitter.
(3) Technical Description of the
Project. A technical description of the
Project, which shall not exceed 1,500
words, and must include the following:
(i) Type of loan being requested,
Project Loan or System Loan. See
Section B.5 of this notice.
(ii) A description of each RER and
ESS being requested for PACE financing
including Project name, location, type,
size, and renewable energy units
generated and saved.
(iii) Verification that the Project(s)
will be designed, constructed, and
operated based on Commercially
Available Technology.
(iv) For each Project, the estimated
dates to start construction and to
achieve commercial operation.
(v) The estimated total capital cost of
each Project and the amount of Award
funds being requested to finance each
Project.
(vi) Proposed financial structure of
the owners, equity investors and other
participants, which shall include
estimated sources and uses of all funds.
(vii) If applicable, a description and
status of any PPA that will be used to
sell and deliver the electrical output of
the Project(s) to Off-Takers.
(viii) If applicable, a description of
any existing power sales contracts, such
as wholesale power contracts, between
Off-Takers and its members.
(ix) Status of, and estimated timelines
to complete, if known, any applicable
Federal, State, or local permitting or
environmental review processes.
(x) Ratepayer and Community Benefit.
A brief discussion from the LOI
submitter that if it is invited to submit
an Application, it will demonstrate in
its Application how it will pass on a
portion of the savings from the loan
forgiveness to the Off-Taker as described
in Section B.6 of this notice and that the
LOI submitter will provide the required
information from Section D.2(b)(19) for
the Community Benefit Plan.
(xi) Prevailing wage. Pursuant to 7
U.S.C. 8103(f), a certification that,
pursuant to 7 U.S.C. 8103(f), the LOI
submitter will comply with the
provisions of the Davis-Bacon Act so
that any laborers and mechanics
employed on the Project or any
contractor or subcontractor in: (A) the
construction of such facility, and (B)
with respect to any taxable year, for any
portion of such taxable year the
alteration or repair of such facility, shall
be paid wages at rates not less than the
prevailing rates for construction,
alteration, or repair of a similar
character in the locality in which such
facility is located as most recently

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determined by the Secretary of Labor, in
accordance with subchapter IV of
chapter 31 of title 40, United States
Code.
(xii) Loan Forgiveness Level. A
statement as to what level of loan
forgiveness outlined in Section B.6 of
the notice that the LOI submitter
believes it is eligible and the reason(s)
why it believes it is eligible for that
specific level of loan forgiveness.
If the LOI submitter cannot provide
any of the information or documents
listed above, it must notify RUS prior to
submitting an Application.
(b) Application Submission. An LOI
submitter that receives an Invitation to
Proceed must submit Application
packages containing the information
and documents required in 7 CFR
1710.501, as well as the following
information and documentation:
(1) Loan Application letter. The letter
may be signed by any authorized
representative of the PACE Applicant;
however, the authorization must also be
submitted with the Application.
(2) Articles of incorporation and
bylaws and other governing and
organizational documents. The PACE
Applicant must provide the articles of
incorporation, bylaws, and other
organizational documents currently in
effect. PACE Applicants that are RUS
Borrowers may comply with this
requirement by notifying in writing to
RUS that there are no material changes
to the documents already on file with
RUS. Other governmental applicants
must only provide evidence of their
ability to enter into debt obligations.
(3) Environmental and Historic
Preservation Requirements. If the PACE
Applicant has not received written
notice from RUS that the Project
environmental review process is
formally concluded as provided in 7
CFR 1970.11, it must submit documents
that establish that a review is in
progress and no ground disturbance
activities have started prior to receiving
notice that the Environmental and
Historic Preservation review
requirements have been completed. This
requirement requires the PACE
Applicant to include a certification that
construction has not started and that it
will not start prior to obtaining written
notice from RUS. The PACE Applicant
must further state the type of
environmental review document it
believes needs to be prepared in
accordance with 7 CFR part 1970 (e.g.,
a Categorical Exclusion with an
Environmental Report, an
Environmental Assessment, or
Environmental Impact Statement in
accordance with subparts B, C, or D,
respectively). The PACE Applicant must

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provide a description of any potential
environmental controversy or
extraordinary circumstances, and the
estimated timelines for completing the
environmental process. PACE
Applicants are strongly advised that
commencing construction prior to
environmental or historic preservation
clearance could make a Project
ineligible for RUS financing, regardless
of a Project’s place in the queue.
(4) Financial Forecast. In order to
demonstrate that the loan is feasible as
required in 7 CFR 1710.112, the PACE
Applicant must submit a financial
forecast. For System Loans, the financial
forecast must cover at least 10 years
from the commercial operating date of
the Project to be financed, must
demonstrate that the PACE Applicant’s
operation is economically viable and
that the proposed loan is financially
feasible. RUS may request projections
for a longer period of time or additional
information, if RUS deems it necessary
based on the financial structure of the
PACE Applicant. The PACE Applicant
must submit the financial forecast in the
form prescribed by RUS in the
Invitation to Proceed.
(5) PPA. If the PACE Applicant
proposes to sell power generated from
the Project to an Off-Taker under a PPA,
the PACE Applicant must provide a
draft copy of the PPA with the
Application, which must be structured
to allow two different rate schedules;
one for the case without loan
forgiveness and the other for the case
with loan forgiveness. Because the PPA
is essentially the mechanism by which
consumers will benefit from the PACE
program, all draft PPAs must be
approved by RUS prior to being
executed. RUS approval of the PACE
Application is predicated upon an
executed PPA that has been approved
by the Agency.
(6) Power Resources Owned, Coowned or Leased. If applicable, provide
a discussion or table of the existing
power resources available to the
applicant that includes generation
facilities owned, co-owned or leased.
The information provided should
include: name of plant and unit,
ownership interest (%), type of unit and
fuel used, net peak capacity, and inservice date.
(7) Power Purchase Contracts. If
applicable, provide a discussion of the
applicant’s power purchase contracts
(with terms greater than two years) that
describes the capacity and energy
resources purchased. The information
should include: type of contract (take-or
pay, unit power purchase, etc.), parties
to the contract, amount (capacity and
energy); and term and expiration date.

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(8) Power Sales Contracts. A
description of any existing power sales
contracts, such as wholesale power
contracts, between an Off-Taker and its
members must be provided that
includes the type of agreements (e.g., all
or partial requirements), the initial
execution dates, and the dates the
agreements expire. The PACE Applicant
must provide copies of the agreements
if requested by the Agency.
(9) Engineering Report. A signed final
engineering report or final engineering
and power cost study must be provided
with the Application, or soon thereafter.
The report must describe the purpose,
design, costs, construction, and
operation of the Project(s). A draft
engineering report must be submitted
for RUS approval prior to it being
finalized and signed. An approved
engineering report is a prerequisite to
the obligation of PACE funds; however,
the PACE borrower may amend the
engineering report with RUS’ written
approval. The finalized engineering
report must be signed or approved by
licensed professional engineer.
(10) Project Contracting. The PACE
Applicant must provide a list of all
engineering, procurement, and
construction contracts it intends to use
on the Project(s), with a brief
description and cost estimate of each
contract. At the Agency’s discretion, any
contracts selected by the Agency for
review and approval must be submitted
within the period of time requested by
the Agency. In no event will Award
funds be disbursed prior to the selected
Project contracts receiving Agency
approval and any other necessary
approvals.
(11) Interconnection Agreements. If an
interconnection agreement is needed,
draft agreements required to
interconnect an RER, ESS, or related
microgrid system to a distribution or
transmission network must be included
with the Application. These agreements
must be approved by the Agency before
the Award funds are disbursed.
(12) System Impact Studies. The
status and summary of any related
system impact studies as they may
pertain to the interconnection of the
Project with a distribution or
transmission network must be provided
with the Application. System impact
studies must be conducted, as
applicable, to include load flow studies,
short circuit analysis, system stability
analysis, and conclusions (e.g., identify
voltage, overload, stability problems and
proposed actions or contingencies;
single contingency analysis of proposed
facilities; transmission constraints; and
system improvements needed). The
nature of any required system upgrades

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and associated costs to be incurred by
the Awardee, Off-Taker, or other entity
must be identified. The Agency may
request a copy of any system impact
studies or links to review such studies.
(13) Transmission Service
Agreements. Transmission service
agreements required to export, transmit
or deliver the power from the Project to
the Off-Taker, if any, must be included
with the Application. These agreements
must receive Agency approval before
Award funds are disbursed.
(14) Other Major Agreements. The
PACE Applicant must provide a list and
a brief description of all other major
agreements that will need to be
executed for the Project. Such
agreements, if applicable, include, but
are not limited to O&M arrangements,
joint ownership arrangements, fuel
management, and fuel supply and
transportation. Agreements selected for
approval by the Agency should be
submitted within the period of time
requested by the Agency. RUS will not
approve the PACE Application until all
agreements requested for review have
been approved by the Agency.
(15) Meteorological Data and Studies.
RERs such as solar and wind Projects
must be supported with meteorological
data and studies to determine the
expected energy generation of the
facility during the initial year of
operation. The PACE Applicant must
identify the amount and basis of any
annual degradation in energy output of
the RERs.
(16) Fuel and Fuel Transportation
Strategies. If applicable to the Project,
the PACE Applicant must describe the
fuel and fuel transportation strategies of
the Project and show that the fuel
supply for the life of the Project is
adequate. Fuel supply contracts and fuel
transportation contracts must be
identified, including the term of each
contract. Copies of the fuel contracts or
arrangements must be provided if
requested by the Agency.
(17) Sources and Uses of Water. The
PACE Applicant must identify the uses
and source of water for the Project, as
well as evidence that the water supply
will be adequate to meet both daily
demands and demands for the life of the
Project. If requested by the Agency, the
PACE Applicant must provide copies of
any agreements or arrangements that
would be used to purchase or receive
water used and consumed by the Project
and the applicable water balance
diagram of the facilities.
(18) Real Estate Matters. If the PACE
Applicant is leasing the real estate upon
which it will build and operate the
Project, the PACE Applicant must
submit an executed copy of the lease

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agreement with the Application. Lease
agreements must contain, or be
amended to contain, a provision that
allows the PACE Applicant to
collaterally assign the lease to RUS as
security for the loan. Further, to the
extent that the lessor under any lease
with the PACE Applicant has executed
a mortgage or deed of trust with respect
to the real estate to another party, that
party must execute an attornment and
non-disturbance agreement in favor of
the PACE Applicant that will allow the
PACE Applicant to continue to lease the
real property and operate the Project in
the event of the lessor’s default under
the mortgage or deed of trust. The PACE
Applicant must submit any attornment
and non-disturbance agreements to RUS
with its PACE Application.
(19) Community Benefit Plan. The
PACE Applicant must submit a
Community Benefit Plan, which should
be implemented within the first year of
receiving Award funds, but which is
expected to be provided beyond the
Project itself, including, but not limited
to:
(i) Investments in the American
workforce such as local worker
retention, retraining and job creation;
(ii) The launch or expansion of
systemic or consumer-based energy
efficiency and carbon reduction
measures such as providing on-bill
financing or Pay as You Save programs
to improve the energy efficiency and
beneficial electrification for consumers;
(iii) Land use agricultural integration
that demonstrates ways for traditional
farming and ranching to benefit from
clean energy Projects; and
(iv) Diversity, equity, inclusion, and
accessibility goals set forth in the
Justice40 Initiative.
(20) Tribal Government Resolution of
Consent. A certification from the
appropriate Tribal official is required if
the Project, or any part of it, will be
sited on Tribal land where a Tribal
government has regulatory authority.
Any non-Tribal PACE Applicant that
fails to provide a certification to provide
service on the Tribal lands identified in
the proposed Project or the proposed
service area will not be considered for
funding.
(21) Estimated Costs. The applicant
must include in its loan Application a
breakdown of the estimated costs listed
in Section C.3(b)(9) of this notice for
which it intends to seek reimbursement.
3. System for Award Management and
Unique Entity Identifier.
(a) At the time of Application, each
PACE Applicant must have an active
registration in the System for Award
Management (SAM) before submitting
its Application in accordance with 2

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CFR part 25. In order to register in SAM,
entities will be required to obtain a
Unique Entity Identifier (UEI).
Instructions for obtaining the UEI are
available at https://sam.gov/content/
entity-registration.
(b) PACE Applicants must maintain
an active SAM registration, with
current, accurate and complete
information, at all times during which it
has an active Federal award or an
Application under consideration by a
Federal awarding agency.
(c) PACE Applicants must ensure they
complete the Financial Assistance
General Certifications and
Representations in SAM.
(d) PACE Applicants must provide a
valid UEI in its Application, unless
determined exempt under 2 CFR 25.110.
(e) The Agency will not make an
Award until the PACE Applicant has
complied with all SAM requirements. If
a PACE Applicant has not fully
complied with the requirements by the
time the Agency is ready to make an
Award, the Agency may determine that
the PACE Applicant is not qualified to
receive a Federal Award and use that
determination as a basis for making a
Federal Award to another PACE
Applicant.
4. Submission Dates and Times.
(a) LOI Submissions. LOIs can be
submitted beginning at 11:59 a.m.
Eastern Time (ET) on June 30, 2023
until 11:59 a.m. ET on September 29,
2023.
(b) Application Submissions. A LOI
submitter that receives an Invitation to
Proceed will have 60 days, or a time
agreeable to the Agency, to complete
and submit its loan Application. If the
deadline to submit the Application falls
on Saturday, Sunday, or a Federal
holiday, the Application is due the next
business day. The Administrator may
grant an extension of time to complete
the documentation required for an
Application if, in the Administrator’s
sole judgment, extraordinary
circumstances prevented the PACE
Applicant from completing the
Application within the timeframe
herein stipulated. In extending an
Invitation to Proceed to a LOI submitter
in the queue, RUS reserves the right to
meet overall RUS program objectives
and therefore, may notify the PACE
Applicant that the amount of financing
to be Awarded is below the level sought
by the PACE Applicant.
(c) General. RUS reserves the right to
ask PACE Applicants for clarifying
information on, or additional
information related to, the LOI or
Application.
5. Intergovernmental Review.
Intergovernmental Review under

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Executive Order 12372 is not required
in this program.
6. Funding Restrictions.
(a) Entities that plan to submit or have
submitted Applications under the RUS
Empowering Rural America (New ERA)
Program may not apply for the same
Project under the PACE Program.
Failure to follow this limitation will
cause the PACE Applicant to be
disqualified from all potential Awards.
(b) Only Projects where construction
began after August 16, 2022, the
effective date of the IRA, will be eligible
for funding under PACE Program.
(c) Funding will not be provided for
merchant power Projects or Projects
where a non-utility entity is generating
power for its own use.
(d) Funding will not be provided for
the purchase of any existing RER or
ESS.
(e) There are no Application or
origination fees for loans under the
PACE Program.
(f) RUS will only finance Projects that
utilize Commercially Available
Technology under this notice.
(g) PACE Applicants can request
interconnection and other costs
associated with being able to deliver the
RER and/or the ESS to Off-Takers.
7. Other Submission Requirements.
(a) An entity may only submit one
LOI. RUS will not accept paper LOIs. A
sample LOI and additional information
is available at https://www.rd.usda.gov/
programs-services/electric-programs/
powering-affordable-clean-energy-paceprogram.
(b) Each LOI submitter may only
submit one Application, upon receiving
a RUS Invitation to Proceed.
(c) Each PACE Applicant may only
receive one Award.
(d) An Invitation to Proceed or RUS’
approval of a PACE Application does
not constitute approval of any
agreement or document that the PACE
Applicant must provide to RUS for RUS’
approval as outlined in this notice or in
the applicable PACE loan agreement.
(e) A PACE Applicant must, after
submitting a LOI or loan Application,
promptly notify RUS of any changes in
its circumstances that materially affect
the information contained in the loan
Application.
(f) Applicants (‘‘co-applicants’’) may
submit a joint/consolidated LOI or a
Joint Application for consideration
(collectively the ‘‘Joint LOI’’ or ‘‘Joint
Application’’). If a joint LOI contains
two or more proposed Projects, the
Agency may evaluate each proposed
Project separately as to whether to
provide an Invitation to Proceed
concerning each proposed Project. The
Agency may also disaggregate its review

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of the technical and Financial
Feasibility of the individual Projects
contained in a joint LOI or a joint
Application. Further, the Agency may
require co-applicants to accept separate
contractual and financial commitments
relating to the Project or Projects
contained in the joint Application.
E. Application Review Information
1. Criteria.
(a) LOI. RUS will process and evaluate
complete LOI on a rolling basis in the
order they are received. In reviewing
LOIs, RUS will assess the following:
(1) Applicant eligibility. The
applicant’s eligibility to participate in
the PACE Program.
(2) Project eligibility. The eligibility of
the proposed Project under the terms of
Section 22001 of the IRA and the
technical feasibility of the proposed
Project.
(3) Geographic Diversity. The
Administrator may consider geographic
diversity in reviewing and evaluating
LOIs.
(4) Financial status. The financial
status of the applicant to determine the
applicant’s likelihood to successfully
secure and repay the PACE loan.
(6) Allocation of Funds Among
Categories. The amount of funding
available in the category due to a
disproportionate number of LOI in that
category and whether RUS will be able
to reallocate funding from another
category listed in Section B.6 of this
notice.
(b) Application. RUS will evaluate
and review each Application based on
the criteria provided in 7 CFR part 1710
subpart D and will assess the following:
(1) Financial coverage ratios. The
Administrator may set financial
coverage ratios based on the risk profile
of the PACE Applicant and specific loan
terms. Those financial ratios will be
included in the PACE borrower’s loan
documents with RUS. RUS Borrowers
will be subject to their current debt
service coverage ratios in their current
loan documents, unless notified
otherwise.
(2) Financial Equity Requirements. As
noted in Section C.2 of this notice, RUS
will require the Awardee to provide at
least 25% equity in the Project for PACE
Project loans. However, the
Administrator may consider requests to
waive the 25% financial equity
requirement for PACE Awards where
the Project will serve areas covered
under SUTA. System Loans that
provided RUS with a perfected senior
lien on all assets of the PACE Applicant
will not have an additional equity
requirement. The required financial
equity position will be set forth in the

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Commitment Letter and the loan
documents as a condition to the PACE
loan. RUS may consider allowing the
Awardee to meet the financial equity
requirements by utilizing any appliable
direct payment or tax credit relating to
the Project as provided in Internal
Revenue Code of 1986 and its
implementing regulations. If the
Administrator allows a PACE Applicant
to meet the financial equity requirement
by utilizing applicable tax credits or
direct payments relating to the Project,
the Agency may require additional
security or credit support from the
PACE Applicant pending the PACE
Applicant’s receipt of the tax credit or
direct payment.
(3) Community Benefit Plan.
(4) Loan forgiveness minimum
requirements.
(i) Ratepayer Benefit: Loan
forgiveness must provide demonstrable
benefits to rate payers located in the
service area. The PACE Applicant must
demonstrate in its LOI that the
consumer benefits and financial benefits
resulting from the forgivable portion of
the loan will be shared between the
Awardee and the Off-Taker. This must
be shown through a long-range financial
forecast scenario that establishes that
the revenue per kilowatt hour (KWh) the
PACE Applicant will receive from the
sale of the power to the Off-Taker would
have been higher but for the loan
forgiveness. Additionally, a net present
value (NPV) calculation should be
performed to demonstrate the financial
benefit to the rate payer with the
addition of the loan forgiveness versus
business as usual without loan
forgiveness.
(ii) Technical Feasibility and
Commercially Available Technology.
RUS must determine that the Project is
technically feasible and confirm that the
Project uses a Commercially Available
Technology.
(iii) Financially Feasible. The
proposal must be financially feasible
and adequately securable, as outlined in
7 CFR 1710.112.
2. Review and Selection Process.
(a) LOI. RUS will consider only
complete LOIs as they are received.
LOIs will be accepted on a rolling basis
and evaluated as received based on the
criteria described in Section E.1(a) of
this notice. Only LOIs selected to
receive an Invitation to Proceed will be
able to proceed with the Application.
(b) Application. LOI submitters that
receive an Invitation to Proceed will
have 60 days, or a time agreeable to the
Agency, from the date RUS sends the
Invitation to Proceed to submit an
Application to the Agency. A General
Field Representative (GFR) will be

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assigned to assist the PACE Applicant
during this part of the Application
process. RUS will process Applications
in the order they are received.
All Applications will be reviewed
based on the criteria provided in
Section E.1(b) of this notice. RUS will
make Awards under the PACE Program
based on Applications that meet the
requirements contained in this notice.
The Agency reserves the right to offer
the PACE Applicant less than the loan
funding and loan forgiveness requested.
F. Federal Award Administration
Information
1. Loan Terms and Conditions. A
successful PACE Applicant will receive
a Commitment Letter from the
Administrator notifying of the
following: total Award amount
approved by RUS; the amount of the
loan that will be forgiven; any
additional controls on its financial,
investment, operational and managerial
activities; acceptable security
arrangements; and such other
conditions deemed necessary by the
Administrator to adequately secure the
Government’s interest and ensure
repayment. Upon receipt of the
acceptance of the Award offer by the
PACE Awardee, RUS will begin to
prepare the loan documents. Upon
completion of the loan documents, RUS
will forward the loan documents to the
PACE Applicant.
Receipt of a Commitment Letter from
the Administrator does not authorize
the PACE Awardee to commence
performance under the Award. All RUS
requirements and loan conditions
specified in the Commitment Letter
must be met before the Awardee may
commence construction on the Project
and before RUS will disperse the
proceeds of the Award, including but
not limited to the Awardee receiving
notice that the Environmental and
Historic Preservation requirements have
been completed. RUS will notify the
Awardee when it is authorized to
commence construction of the Projects.
(a) Maturity of a PACE Loan. The
maturity of a PACE loan will be the
lesser of:
(1) The expected useful life of the
Project,
(2) The term of the PPA (if required
for execution between the PACE
Applicant and the Off-Taker),
(3) The term of the lease for the land
that the Project will occupy (if such
land is not owned by the PACE
Applicant),
(4) The expiration dates of power
sales contracts between the PACE
Applicant and its members should the
PACE Applicant provide the power

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supply needs of the members under
such power sales contracts,
(5) The loan term requested by the
PACE Applicant, or
(6) 35 years.
(b) Waiver and Modification of Term
and Conditions. The Administrator
reserves the right to modify or waive
certain requirements if:
(1) The Administrator believes such
modifications or waivers are in the best
interest of the government,
(2) The Administrator has determined
that the loan will be repaid on or before
the maturity date, and
(3) The security is adequate.
The Awardee may be required to
establish and maintain reserves
sufficient for timely loan payments,
emergency maintenance, extensions to
the facilities, and replacement of shortlived assets.
(c) Interest rate. Loans made under
PACE Program will bear interest equal
to the municipal rate as provided in
Section 317(c) of the RE Act, and as
further described in the first sentence of
7 CFR 1714.4(a) and 7 CFR 1714.5(a)–
(c). Municipal rates can be found at
https://www.rd.usda.gov/page/ruralutilities-loan-interest-rates. Note that
because there is no interest rate cap for
the PACE Program, the third sentence of
7 CFR 1714.4(a) and 7 CFR 1714.5(d)
shall not apply.
(d) Prepayment. Prepayment of PACE
loans will be governed by Sections
305(c) and 306B of the RE Act and the
provisions of 7 CFR part 1714, subpart
A and 7 CFR 1786, subpart F that relate
to municipal rate loans. If the Awardee
prepays a PACE loan, its obligations
under the Community Benefit Plan will
continue for a period equal to the
shorter of: (1) the original term of the
Award, or (2) five years from the date
the Project was placed in service.
(e) Repayment. The repayment of each
advance to the PACE borrower must be
amortized over the term on the PACE
loan, such that the Awardee will make
equal monthly payments that will pay
all principal and interest on such
advance no later than the maturity date.
(f) Financial Ratios. Financial ratios
shall be determined as set forth in
Section E.1(b)(1) of this notice.
(g) Collateral. Project Loans will be
secured through a senior security
interest on the Project’s assets and the
revenues generated from the Project’s
assets. System Loans will be secured by
assets of the Awardee. For RUS
Borrowers, the Agency may rely, at its
sole discretion, on existing security
arrangements with RUS if it is
determined that the government has
adequate collateral. When an Awardee
is unable by reason of preexisting

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encumbrances, or otherwise, to furnish
a senior perfected security interest on its
entire system, the Administrator may
accept other forms of security, such as
a guarantee from the appropriate party,
an irrevocable letter of credit, or
revenue pledges, if the Administrator
determines that such credit support is
reasonably adequate and acceptable.
(h) Opinion of counsel. An opinion of
counsel is required at closing and must
be acceptable to the Administrator,
opining, inter alia, that the Awardee is
properly organized and has the
authority to enter into the Award and
that RUS has a first priority, senior lien
on the required collateral, unless other
collateral arrangements have been
agreed to with the Agency.
(i) Cybersecurity. An Awardee must
certify that it has adopted and
implemented a cybersecurity risk
mitigation and remediation plan that is
consistent with prudent utility practice.
Additionally, the Awardee must certify
that such cybersecurity risk mitigation
and remediation plan is in effect at the
time of each advance request.
(j) General Provisions. Unless
otherwise stated in this notice or in the
loan documents, a PACE loan will be
governed by the municipal rate loan
provisions contained in 7 CFR parts
1710, 1714, and 1721.
(k) Funding Disbursements and
Restriction.
(1) General. RUS will disburse funds
to the Awardee in accordance with the
terms of the Award documents. All
Award funds will be disbursed as a
reimbursement for eligible program
costs after the Project is complete, and
its performance verified in a manner
that is sufficient to RUS. RUS reserves
the right to consider requests to disburse
funds prior to completion of the Project
by Awardees with System Loans.
Pursuant to Section 22001 of the IRA,
the Award agreements must contain a
provision that requires the advance of
all loan funds on or before September
30, 2031. All undisbursed funds as of
close of business on September 30,
2031, will automatically be rescinded;
however, the Agency will set a last day
for advance in the Award agreements
well in advance of the statutory limit.
(2) Advances and Loan Forgiveness
Information. RUS will disburse Award
funds to the Awardee after the Awardee
has satisfied all conditions of its Award
agreement with respect to the release of
funds. This may include, but not be
limited to, certain milestone conditions
being achieved during construction to
the satisfaction of RUS or the results of
any required performance testing of the
Project that RUS has reviewed and
determined to be acceptable. RUS will

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forgive the portion of the loan specified
in the Award agreement at the time RUS
disburses the Award proceeds if the
Awardee demonstrates to RUS’
satisfaction that the Project is
functioning as represented in the PACE
Application. The maximum loan
forgiveness amount for each loan
forgiveness category is described in
Section B.6 of this notice.
If, however, RUS determines after
having forgiven a portion of the loan
that the Awardee is no longer in
compliance with the terms of the Award
agreement, RUS will require the
Awardee to repay the entire PACE loan
in full.
(3) Signage. The Awardee is
encouraged to display USDA standard
infrastructure investment signage,
available for download from the
Agency, during construction of the
Project. Expenditures for such signage
shall be a permitted eligible cost of the
Project.
2. Administrative and National Policy
Requirements. The items listed in this
notice implement the appropriate
administrative and national policy
requirements, which include but are not
limited to:
(a) Execution of a PACE loan
agreement and related loan documents;
(b) Compliance with policies,
guidance, and requirements as
described in Section A.2 of this notice,
and any successor regulations.
(c) Except as provided in the notice
and in the executed loan agreements, all
other generally applicable regulations
contained in 7 CFR parts 1700–1730,
1767, 1773, and 1787, and 7 CFR part
1970 will apply to PACE loans, as well
as relevant Bulletins published by the
RUS Electric Program.
As required by 7 U.S.C. 8103(f), the
Projects financed through the PACE
Program will be subject to the Wage
Rate Requirements (formerly DavisBacon Act) prevailing wage
requirements contained in Subchapter
IV of Chapter 31 of Title 40 of the
United States Code and the Department
of Labor’s implementing regulations
contained in 29 CFR parts 1, 3, and 5.
(d) Pursuant to the Defense
Production Act of 1950 and the Foreign
Investment Risk Review Modernization
Act of 2018, RUS will require PACE
Applicants to disclose any foreign
person or foreign entity that has an
ownership, management rights, or
voting interesting in the PACE
Applicant or the Project.
3. Reporting.
(a) Performance Reporting. RUS will
establish periodic reporting
requirements that will be outlined in the
Award documents.

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(b) Accounting Requirements.
Awardees must comply with
Accounting Principles Generally
Accepted in the United States, (GAAP),
as well as compliance with the
requirements of the applicable
regulations: 2 CFR part 200 subpart E
Cost Principles, 48 CFR 31 Federal
Acquisition Regulations Contract Cost
Principles, and the system of accounting
prescribed by 7 CFR part 1767
Accounting Requirements for RUS
Electric Borrowers.
(c) Audit Requirements. Awardees
will be required to prepare and furnish
to RUS audits as follows:
(1) Awardees that are Non-Federal
Entities shall provide RUS with an audit
pursuant to 2 CFR part 200, subpart F,
Audit Requirements. The Non-Federal
Entity Awardee must follow subsection
2 CFR 200.502 in determining federal
awards expended.
All RUS loans impose an ongoing
compliance requirement for the purpose
of determining federal awards expended
during a fiscal year. In addition, the
Awardee must include the value of new
federal loans made along with any grant
expenditures from all federal sources
during the Awardee’s fiscal year.
Therefore, the audit submission
requirement for this program begins in
the Awardee’s fiscal year that the loan
is made and thereafter, based on the
balance of federal loan(s) at the
beginning of the audit period. All
required audits must be submitted
within the earlier of:
(i) 30 calendar days after receipt of the
auditor’s report; or
(ii) nine months after the end of the
Awardee’s audit period.
(2) For all other entities, Awardees
shall provide RUS with an audit within
120 days after the as of audit date in
accordance with 7 CFR part 1773. Note
that with respect to advances that
contain loan funds, the audit is required
after an advance has been made, and,
thereafter, from the close of each
subsequent fiscal year until the loan is
repaid in full. While an audit is
required, Awardees must also submit a
report on compliance and internal
controls over financial reporting, as well
as a report on compliance with aspects
of contractual agreements and
regulatory requirements.
(d) Monitoring Requirements.
Awardees must comply with all
reasonable RUS requests to support
ongoing monitoring efforts. Awardees
must afford RUS, through their
representatives, a reasonable
opportunity, at all times during business
hours and upon prior notice, to have
access to and the right to inspect any or
all books, records, accounts, invoices,

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contracts, leases, payrolls, timesheets,
cancelled checks, statements, and other
documents, electronic or paper of every
kind belonging to or in possession of the
Awardee or in any way pertaining to its
property or business, including its
parents, affiliates, and subsidiaries, if
any, and to make copies or extracts
therefrom. Failure to comply with
reasonable RUS requests could result in
a termination of the Award agreement.
G. Federal Awarding Agency Contact(s)
For general questions about this
announcement, please contact the point
of contact listed in the FOR FURTHER
INFORMATION CONTACT Section of this
notice.
H. Build America, Buy America
Requirements
Infrastructure Project Awards under
this announcement must meet the
following domestic preference
requirements:
1. Funding to Non-Federal Entities.
Awardees that are Non-Federal Entities
shall be governed by the requirements of
Section 70914 of the Build America,
Buy America Act (BABAA) within the
Infrastructure Investment and Jobs Act
(IIJA), and its implementing regulations.
The Act requires the following Buy
America preference:
(a) All iron and steel used in the
Project are produced in the United
States. This means all manufacturing
processes, from the initial melting stage
through the application of coatings,
occurred in the United States.
(b) All manufactured products used in
the Project are produced in the United
States. This means the manufactured
product was manufactured in the
United States, and the cost of the
components of the manufactured
product that are mined, produced, or
manufactured in the United States is
greater than 55 percent of the total cost
of all components of the manufactured
product, unless another standard for
determining the minimum amount of
domestic content of the manufactured
product has been established under
applicable law or regulation.
(c) All construction materials
(excludes cement and cementitious
materials, aggregates such as stone,
sand, or gravel, or aggregate binding
agents or additives) are manufactured in
the United States. This means that all
manufacturing processes for the
construction material occurred in the
United States.
BABAA only applies to articles,
materials, and supplies that are
consumed in, incorporated into, or
affixed to an infrastructure project. As
such, it does not apply to tools,

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equipment, and supplies, such as
temporary scaffolding, brought to the
construction site and removed at or
before the completion of the
infrastructure project. Nor does BABAA
apply to equipment and furnishings,
such as movable chairs, desks, and
portable computer equipment, that are
used at or within the finished
infrastructure project. Any requests for
waiver of these requirements must be
submitted pursuant to USDA’s guidance
available online at https://
www.usda.gov/ocfo/federal-financialassistance-policy/
USDABuyAmericaWaiver.
2. Funding to all other entities. All
other Awardees shall be governed by the
Agency’s Buy American requirement at
7 CFR part 1787. For purposes of
BABAA compliance, for-profit
organizations are not considered NonFederal Entities. However, this does not
alter independent statutory authorities
that USDA may have to include
domestic content requirements in
awards of Federal financial assistance
issued to for-profit organizations. Any
requests for waiver of these
requirements must be submitted
pursuant to those regulations.
I. Other Information
1. Administrative Procedure Act
Statement. This notice is being issued
without advance rulemaking or public
comment. The Administrative
Procedure Act of 1946 (APA), as
amended (5 U.S.C. 553), has several
exemptions to rulemaking requirements.
Among them is an exception for a
matter relating to ‘‘loans, grants,
benefits, or contracts.’’
2. Congressional Review Act
Statement. Pursuant to Subtitle E of the
Small Business Regulatory Enforcement
Fairness Act of 1996 (also known as the
Congressional Review Act or CRA); 5
U.S.C. 801 et seq., the Office of
Information and Regulatory Affairs in
the Office of Management and Budget
designated this action as a major rule as
defined by 5 U.S.C. 804(2), because it is
likely to result in an annual effect on the
economy of $100,000,000 or more.
Accordingly, there is a 60-day delay in
the effective date of this action, and the
Agency will not take action on LOIs
until the later of 60 days after
notification to Congress or July 17, 2023.
The 60-day delay required by the CRA
is not expected to have a material
impact upon the administration and/or
implementation of this program.
3. Paperwork Reduction Act. In
accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35), USDA requested that the
Office of Management and Budget

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(OMB) conduct an emergency review of
a new information collection that
contains the Information Collection and
Recordkeeping requirements contained
in this notice.
In addition to the emergency
clearance, the regular clearance process
is hereby being initiated to provide the
public with the opportunity to comment
under a full comment period, as the
Agency intends to request regular
approval from OMB for this information
collection. Comments from the public
on new, proposed, revised, and
continuing collections of information
help the Agency assess the impact of its
information collection requirements and
minimize the public’s reporting burden.
Comments may be submitted regarding
this information collection through the
Federal eRulemaking Portal at https://
www.regulations.gov. In the ‘‘Search for
dockets and documents on agency
actions’’ box, type in the DOCKET #
from this notice to submit or view
public comments and to view
supporting and related materials
available electronically. Information on
using Regulations.gov, including
instructions for accessing documents,
submitting comments, and viewing the
docket after the close of the comment
period, is available through the site’s
‘‘FAQ’’ link. Comments on this
information collection must be received
by July 17, 2023.
Title: Powering Affordable Clean
Energy (PACE) Program.
OMB Control Number: 0572–NEW.
The following estimates are based on
the average over the first 3 years the
program is in place.
Estimate of Burden: Public reporting
burden for this collection of information
is estimated to average 10.632 hours per
response.
Respondents: Private entities,
governmental entities, nonprofits,
Indian Tribes, district organizations,
institutions of higher education.
Estimated Number of Respondents:
200.
Estimated Number of Responses per
Respondent: 8.47.
Estimated Number of Responses:
1,694.
Estimated Total Annual Burden
(hours) on Respondents: 18,010.
Copies of this information collection
may be obtained from Katherine Anne
Mathis, Management Analyst,
Regulatory Division, RD Innovation
Center, telephone: 202–713–7565;
email: [email protected]. All
responses to this information collection
and recordkeeping notice will be
summarized and included in the request
for OMB approval. All comments will
also become a matter of public record.

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4. National Environmental Policy Act.
All recipients under this notice are
subject to the requirements of 7 CFR
part 1970.
5. Federal Funding Accountability
and Transparency Act. All applicants,
in accordance with 2 CFR part 25, must
be registered in SAM and have a UEI
number as stated in Section D.3 of this
notice. All recipients of Federal
financial assistance are required to
report information about first-tier subawards and executive total
compensation in accordance with 2 CFR
part 170.
6. Wage Rate Requirements. As
provided in 7 U.S.C. 8103(f) all Projects
funded under the PACE Program, as a
condition of receiving a grant or loan
under this Section, an eligible entity
shall ensure that all laborers and
mechanics employed by contractors or
subcontractors in the performance of
construction work financed, in whole or
in part, with the grant or loan, as the
case may be, shall be paid wages at rates
not less than those prevailing on similar
construction in the locality, as
determined by the Secretary of Labor in
accordance with 40 U.S.C. 31, Sections
3141 through 3144, 3146, and 3147.
7. Civil Rights Act. All grants made
under this notice are subject to Title VI
of the Civil Rights Act of 1964 as
required by the USDA in 7 CFR part 15,
subpart A (eCFR:: 7 CFR part 15 Subpart
A—Nondiscrimination in FederallyAssisted Programs of the Department of
Agriculture—Effectuation of Title VI of
the Civil Rights Act of 1964) and
Section 504 of the Rehabilitation Act of
1973, Title VIII of the Civil Rights Act
of 1968, Title IX, Executive Order 13166
(Limited English Proficiency), Executive
Order 11246, and the Equal Credit
Opportunity Act of 1974.
8. Nondiscrimination Statement. In
accordance with Federal civil rights
laws and the USDA civil rights
regulations and policies, the USDA, its
Mission Areas, agencies, staff offices,
employees, and institutions
participating in or administering USDA
programs are prohibited from
discriminating based on race, color,
national origin, religion, sex, gender
identity (including gender expression),
sexual orientation, disability, age,
marital status, family/parental status,
income derived from a public assistance
program, political beliefs, or reprisal or
retaliation for prior civil rights activity,
in any program or activity conducted or
funded by USDA (not all bases apply to
all programs). Remedies and complaint
filing deadlines vary by program or
incident.
Program information may be made
available in languages other than

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Federal Register / Vol. 88, No. 94 / Tuesday, May 16, 2023 / Notices
English. Persons with disabilities who
require alternative means of
communication to obtain program
information (e.g., Braille, large print,
audiotape, American Sign Language)
should contact the responsible Mission
Area, agency, or staff office; the USDA
TARGET Center at (202) 720–2600
(voice and TTY); or the 711 Relay
Service.
To file a program discrimination
complaint, a complainant should
complete a Form AD–3027, USDA
Program Discrimination Complaint
Form, which can be obtained online at
https://www.usda.gov/sites/default/
files/documents/ad-3027.pdf from any
USDA office, by calling (866) 632–9992,
or by writing a letter addressed to
USDA. The letter must contain the
complainant’s name, address, telephone
number, and a written description of the
alleged discriminatory action in
sufficient detail to inform the Assistant
Secretary for Civil Rights (ASCR) about
the nature and date of an alleged civil
rights violation. The completed AD–
3027 form or letter must be submitted to
USDA by:
(1) Mail: U.S. Department of
Agriculture, Office of the Assistant
Secretary for Civil Rights, 1400
Independence Avenue SW, Washington,
DC 20250–9410; or
(2) Fax: (833) 256–1665 or (202) 690–
7442; or
(3) Email: [email protected].
USDA is an equal opportunity
provider, employer, and lender.
Andrew Berke,
Administrator, Rural Utilities Service, USDA
Rural Development.
[FR Doc. 2023–10388 Filed 5–15–23; 8:45 am]
BILLING CODE P

DEPARTMENT OF COMMERCE
Bureau of Industry and Security

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Agency Information Collection
Activities; Submission to the Office of
Management and Budget (OMB) for
Review and Approval; Comment
Request; Technology Letter of
Explanation
The Department of Commerce will
submit the following information
collection request to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, on or after the date of publication
of this notice. We invite the general
public and other Federal agencies to
comment on proposed, and continuing
information collections, which helps us
assess the impact of our information

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collection requirements and minimize
the public’s reporting burden. Public
comments were previously requested
via the Federal Register on March 8,
2023, during a 60-day comment period.
This notice allows for an additional 30
days for public comments.
Agency: Bureau of Industry and
Security, Department of Commerce.
Title: Technology Letter of
Explanation.
OMB Control Number: 0694–0047.
Form Number(s): None.
Type of Request: Extension of a
currently approved information
collection.
Number of Respondents: 6,283.
Average Hours per Response: 30
minutes to 2 hours.
Burden Hours: 9,416.
Needs and Uses: This collection is
necessary under section 748.8(o) and
supplement 2 section (o) to Part 748 of
the Export Administration Regulations
(EAR). Licensing officers must make
decisions on licensing the export of
United States commodities and
technical data to foreign countries.
When an export involves certain
technical data or knowhow described in
the Export Administration Regulation,
additional information is required to
fully understand the transaction and
make a licensing decision. The
Technology Letter of Explanation
provides a written description of the
technology proposed for export
sufficient to allow BIS technical staff to
evaluate the impact of licensing the
export on United States national
security and foreign policy. The letter of
assurance puts the consignee on notice
that the technology is subject to U.S.
export controls and causes the
consignee to certify that it will not
release the data or the direct product of
the data to certain specified country
group nationals; thus providing
assurance that U.S. national security
data will be safeguarded and used only
for the stated end use. The additional
information is necessary to evaluate
technology exports as covered under
this collection.
Affected Public: Business or other forprofit organizations.
Frequency: On Occasion.
Respondent’s Obligation: Voluntary.
Legal Authority: EAR sections 748.8
and sup 2 section (o) to part 748.
This information collection request
may be viewed at www.reginfo.gov.
Follow the instructions to view the
Department of Commerce collections
currently under review by OMB.
Written comments and
recommendations for the proposed
information collection should be
submitted within 30 days of the

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publication of this notice on the
following website www.reginfo.gov/
public/do/PRAMain. Find this
particular information collection by
selecting ‘‘Currently under 30-day
Review—Open for Public Comments’’ or
by using the search function and
entering either the title of the collection
or the OMB Control Number 0694–0047.
Sheleen Dumas,
Department PRA Clearance Officer, Office of
the Under Secretary for Economic Affairs,
Commerce Department.
[FR Doc. 2023–10431 Filed 5–15–23; 8:45 am]
BILLING CODE 3510–33–P

DEPARTMENT OF COMMERCE
International Trade Administration
[C–570–089]

Certain Steel Racks and Parts Thereof
From the People’s Republic of China:
Amended Final Results of
Countervailing Duty Administrative
Review in Part; 2020
Enforcement and Compliance,
International Trade Administration,
Department of Commerce.
SUMMARY: The U.S. Department of
Commerce (Commerce) is amending the
final results of the administrative review
of the countervailing duty (CVD) order
on certain steel racks and parts thereof
from the People’s Republic of China
(China), covering the period of review
(POR) January 1, 2020, through
December 31, 2020, to correct
ministerial errors.
DATES: Applicable May 16, 2023.
FOR FURTHER INFORMATION CONTACT:
Drew Jackson, AD/CVD Operations,
Office IV, Enforcement and Compliance,
International Trade Administration,
U.S. Department of Commerce, 1401
Constitution Avenue NW, Washington,
DC 20230; telephone: (202) 482–4406.
SUPPLEMENTARY INFORMATION:
AGENCY:

Background
Commerce published the final results
of this review on April 10, 2023.1 On
April 11 and 12, 2023, we received
timely submitted ministerial error
comments from the petitioner 2 and
Nanjing Dongsheng Shelf Manufacturing
Co., Ltd. (Dongsheng), respectively.3 We
1 See Certain Steel Racks and Parts Thereof from
the People’s Republic of China: Final Results and
Partial Rescission of Countervailing Duty
Administrative Review; 2020, 88 FR 21177 (April
10, 2023) (Final Results).
2 The petitioner is the Coalition for Fair Racks
Imports.
3 See Petitioner’s Letter, ‘‘Ministerial Error
Allegations,’’ dated April 11, 2023; see also

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