Notice of Intent to Fund: Climatetech Careers Fund

The Massachusetts Clean Energy Center (MassCEC), a quasi-state economic development agency, is issuing a Notice of Intent to Fund the Climatetech Careers Fund. MassCEC focuses on accelerating the growth of clean energy across Massachusetts to promote job creation, environmental benefits, and long-term economic development. This initiative reflects MassCEC's broader mission to support equitable clean energy solutions and contribute to the state’s climate goals. In this notice, MassCEC signals its intention to consider a partnership with Social Finance to develop a pilot fund aimed at supporting individuals entering clean energy careers. Social Finance, a national nonprofit and registered investment adviser, proposes to launch a $10 million pilot program named the Massachusetts Climate Careers Fund. MassCEC is asked to contribute $5 million through a conditional grant, with Social Finance leveraging philanthropic sources to match or exceed this amount. The Fund will provide zero-interest, no-fee loans to cover living expenses and tuition gaps for Massachusetts residents pursuing training in high-demand climate-related fields such as HVAC/R, electrical work, energy auditing, and electric vehicle mechanics. The Fund is designed to be a revolving mechanism, recycling loan repayments to support additional participants over time. It offers borrower protections such as income-based deferment and loan forgiveness for those in good standing who do not reach a minimum income threshold. The loans are strictly for individuals in pre-approved training programs, and operational costs will be covered exclusively by philanthropic funds, not MassCEC’s grant. Applicants responding to this Notice must submit a comprehensive proposal demonstrating the ability to offer a program of equal or greater value. Required documentation includes full contact information, an overview of organizational qualifications and proposed programming, detailed budgets, references, and a clear scope of work. Proposals must be submitted via email to RFPWorkforce@MassCEC.com by June 20, 2025, at 11:59 PM EST. Questions are due by June 11, 2025, and should be directed to the same email address. Social Finance plans to manage the Fund through a 501(c)(3) special purpose vehicle and oversee fund operations, compliance, reporting, and strategic improvements. If the fund does not secure matching commitments and commence lending by June 30, 2027, MassCEC reserves the right to terminate the agreement. All unobligated funds must be returned if the Fund ceases operations prematurely. This posting serves as an open call to determine if alternative qualified entities can offer a comparable or superior proposal.