INVESTING IN AMERICAN ENERGY
The Loan Programs Office (LPO) is a program office within the U.S. Department of Energy and its Executive Director reports to the Secretary of Energy. LPO manages two federal lending programs:
- Title XVII innovative clean energy loan guarantee program created by the Energy Policy Act of 2005.
- Advanced Technology Vehicles Manufacturing (ATVM) direct loan program created by the Energy Independence and Security Act of 2007.
Since its creation, LPO has become a recognized leader in financing clean energy. LPO’s team of financial, legal, technical, and environmental professionals have helped to:
- Maintain a Strong Portfolio: LPO’s financial portfolio has been successful, even when compared with private financing of conventional energy projects in the United States.
- Launch New Industries: LPO investments have jump-started groundbreaking U.S. industries such as utility-scale photovoltaic solar power, advanced bioenergy and biofuels, electric vehicles, and next-generation nuclear power.
- Make $40 Billion in Loan Authority Available For New Applicants: Since 2013, the LPO has issued three new solicitations under the Title XVII loan guarantee program and made important improvements to the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. This has allowed LPO to accept and process new applications and it has received an excellent response to date.
- Issue New Loan Guarantees and Commitments: In the past two years, DOE issued $6.5 billion in loan guarantees to support the Vogtle nuclear energy project—the first new nuclear power plant to be licensed and begin construction in the U.S. in more than thirty years. It also issued a $259 million conditional commitment to Alcoa to finance a facility in Tennessee to manufacture high-strength, lightweight aluminum to boost fuel efficiency in the automotive industry.
- Support Financial Innovation in Clean Energy: LPO completed the first tax equity transaction in the Federal government and facilitated the creation of new ‘Yield-cos’ to support greater investment in the clean energy markets. LPO also pioneered new co-lending arrangements with commercial lenders.
LPO continues to make smart investments in exciting transformative projects that advance America's clean energy economy.