Sole Source Evergreen Climate Innovations Sole Source Illinois Clean Energy Innovation Fund

The Illinois Environmental Protection Agency awarded a sole source contract to Evergreen Climate Innovations, an Illinois not-for-profit corporation, for continued management and administration of the Illinois Clean Energy Innovation Fund. The contract, valued at $1,000,000, runs from July 1, 2026, through June 30, 2027, with no renewal options. Funding derives from U.S. Department of Energy State Energy Program Grant awards for Fiscal Year 2026. Evergreen will manage a restricted revolving investment fund established through prior American Recovery and Reinvestment Act and State Energy Program federal grants, currently holding approximately $4.2 million in accumulated principal, interest, and investment returns.

Under this contract, Evergreen will identify and provide financial assistance to early-stage clean energy businesses operating in Illinois across sectors including renewable energy, energy efficiency, energy storage, water resource management, and next-generation transportation. Services include application review and due diligence evaluation, quarterly financial and program reporting to the Illinois EPA, investment outcome tracking, and administrative oversight. The contract permits Evergreen to allocate up to 20 percent of investment proceeds for fund management and administrative costs, with an additional 10 percent available for capacity-building and support services to portfolio companies. The sole source justification was based on federal cooperative agreement requirements and Evergreen's status as the Department of Energy-approved custodian of the pre-existing fund, with transfer to alternative administrators prohibited by federal restrictions.