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Committee reauthorizes FAME'9s lapsed energy financing authority as a toolbox option

Energy, Utilities and Technology Committee ยท March 4, 2026

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Summary

The committee voted to move language (Part TT) reauthorizing previously lapsed Finance Authority of Maine (FAME) authority to finance energy projects; FAME said it has no active projects now but the statute would allow careful underwriting and public hearings for future energy financings up to a statutory ceiling.

The Energy, Utilities and Technology Committee voted to include language reauthorizing a lapsed Finance Authority of Maine (FAME) bonding and financing authority for certain energy projects.

Bill Norbert of FAME told the committee that the authority dated to the 1990s and was originally created as a tool to address large energy financing needs. He said FAME has not used the authority extensively and has no projects currently in the pipeline, but that reactivating the authority would provide another financing option should projects arise. Norbert described the statutory protections and underwriting practices FAME would apply and said the current statutory ceiling for the various energy-related authorities is $180,000,000 in aggregate.

Committee members asked for examples of projects that could qualify; Norbert said eligible projects are broadly defined in statute and could include electric generation or distribution systems and a range of technologies (solar, biomass, waste-to-energy, water projects, etc.), but that any FAME financing would require a reliable revenue stream and board approval.

The committee moved language part TT into the report by a recorded straw vote (six in favor, three opposed). Members discussed how Part TT interacts with other energy legislation and noted that the provision is intended as a "tool in the toolbox," not a directive to pursue specific financings.

Next steps: The language will be included in the LD 2212 report and may be offered in the omnibus or department cleanup bills; FAME will continue to engage with agencies and the committee if concrete project proposals appear.