The Hawai'i Department of Agriculture is accepting loan applications from agricultural and aquacultural operations to fund renewable energy technology under a recently enacted law.

The new loan program, authorized under Act 209, has a maximum loan amount of $1.5 million or 85 percent of the renewable energy project cost, whichever is less. Renewable energy technologies that would qualify under the program include photovoltaic, hydroelectric, wind, methane, biodiesel and ethanol. Loan funds may be used for infrastructure, equipment, land improvement and operating costs associated with the project.

Loans granted through December 31, 2008 will have between a 3 per cent and 5 percent interest rate, depending on the type of operation. Applicants must be full-time farmer, rancher, grower or aquaculturist and must have resided in Hawai'i for the past three years.

For more information, call 973-9460 on O'ahu, 808-974-4140 in Hilo, 808-323-7591 in Kona, 808-274-3141 on Kaua'i, 808-984-2400 on Maui and 800-468-4644 on Moloka'i.