The Department of Energy’s Loan Programs Office has more than $40 billion in remaining loan authority to foster clean energy projects and support American advanced vehicle and component manufacturing.
President Obama announced that LPO has issued guidance on the kinds of Distributed Energy Projects it can support through existing solicitations, as well as making up to an additional $1 billion available.
Supplemental guidance to the Renewable Energy and Efficient Energy Projects solicitation was issued to clarify eligibility, including for advanced biofuel technologies that produce products, including chemicals.
In June 2015, LPO announced it will guarantee $1.8 billion in loans to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG Power) for the Vogtle advanced nuclear energy project.
In 2011, LPO issued loan guarantees to the first 5 PV projects larger than 100 MW in the United States. Since 2011, an additional 17 PV projects larger than 100 MW have been financed without DOE loan guarantees. Read more on Executive Director Peter Davidson’s blog post or see the full report here.
As of September 2014, more than $810 million of interest has been earned and losses on the portfolio represent approximately 2% of LPO’s total loan and loan guarantee commitments. For more information on LPO’s financial performance, see Executive Director Peter Davidson’s blog post or read the full report here.
August 24, 2015President Obama Announces More Than a Billion Dollars in Energy Department Initiatives to Advance Innovative Clean Energy Technologies
LPO and ARPA-E Initiatives Support America’s Growing Low-Carbon Economy and Combat Climate Change
June 24, 2015Energy Department Issues Remaining $1.8 Billion in Loan Guarantees for Vogtle Advanced Nuclear Energy Project
To further support the construction of two advanced nuclear reactors at the Alvin W. Vogtle Electric Generating Plant, the Department of Energy announced today it will issue $1.8 billion in loan guarantees to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG Power).
March 26, 2015Energy Department Offers Conditional Commitment to Alcoa to Support Manufacturing of Aluminum for Automotive Sector
As part of the Administration’s effort to support advanced vehicles that are more affordable for Americans to drive, strengthen U.S. leadership in manufacturing advanced vehicle technologies, and reduce greenhouse gas emissions through increased fuel efficiency, the Department of Energy announced a conditional commitment for a $259 million loan to Alcoa Inc. today.