Department of Energy Issues Draft Loan Guarantee Solicitation for Advanced Nuclear Energy Projects
Washington D.C. — The Department of Energy has issued a draft solicitation that would provide up to $12.6 billion in loan guarantees for Advanced Nuclear Energy Projects, supporting the Administration’s all-of-the-above energy strategy and bringing the nation closer to its low-carbon future. Once finalized, these loan guarantees will provide critical financing to help commercialize advanced nuclear energy technologies, supporting projects that are often unable to secure full commercial financing due to their scale and use of innovative technology. This draft solicitation represents another step in the Department’s commitment to help overcome the financial barriers to the deployment of next generation technologies that will diversify America’s clean energy portfolio.
“For the first time in more than 30 years, new nuclear power plants are under construction in the United States,” said Secretary Ernest Moniz. “This solicitation would build on that investment and help support the construction of the next generation of safe and secure nuclear energy projects. Expanding on the Administration’s commitment to an all-of-the-above energy strategy, these projects will provide clean energy to American families and businesses.”
Authorized by Title XVII of the Energy Policy Act of 2005, the Advanced Nuclear Energy Projects Solicitation would provide loan guarantees to support construction of innovative nuclear energy and front-end nuclear projects in the United States that reduce, avoid, or sequester greenhouse gas emissions. While any project that meets the eligibility requirements may apply, the Department has identified four key technology areas of interest in the draft solicitation: advanced nuclear reactors, small modular reactors, upgrades and uprates at existing facilities, and front-end nuclear projects.
The Department welcomes public comment on a range of issues and will consider public feedback provided during the 30-day public comment period in defining the scope of the final solicitation. The draft solicitation can be found online at /lpo.
Once the solicitation is finalized, the Department’s Loan Programs Office (LPO) will have open solicitations in four areas, including the $8 billion Advanced Fossil Energy Projects Solicitation, the $4 billion Renewable Energy and Efficient Energy Projects Solicitation and the $16 billion Advanced Technology Vehicle Manufacturing (ATVM) loan program.
Currently, LPO supports a diverse portfolio of more than $30 billion in loans, loan guarantees, and commitments, supporting more than 30 projects nationwide. The projects that LPO has supported include one of the world’s largest wind farms; several of the world’s largest solar generation and thermal energy storage systems; and more than a dozen new or retooled auto manufacturing plants across the country.