RSS
New Section 1706 Loan Guarantee Will Maintain Affordability for Customers and Improve System Resilience and Reliability
On December 16, 2024, LPO announced a conditional commitment for a direct loan of up to $754.8 million to NOVONIX to finance construction of a new facility in Chattanooga, TN to manufacture synthetic graphite, a critical component used in EV batteries.
DOE’s investments will support WEPCO in maintaining affordability for customers and meeting its public commitment to exit coal as a power generation source by the end of 2032.
The approach accommodates utility plans that include multiple individual project sites, including individual project components that may be technologically diverse, geographically varied, and at different stages of the planning and execution process.
On December 9. 2024, LPO announced a conditional commitment for a loan guarantee of up to $305.54 million to finance Project IceBrick, a VPP consisting of up to 193 cold thermal energy storage installations at commercial buildings across California.
The Loan Programs Office (LPO) publishes the LPO Monthly Application Activity Report – the best way to understand the level of interest from applicants for LPO financing, and what technology sectors have been most actively engaged with LPO.
On December 2, 2024, LPO announced a conditional commitment for a loan of up to $7.54 billion to StarPlus Energy LLC to help finance up to two lithium-ion battery cell and module manufacturing plants in Kokomo, Indiana.
On November 25, 2024, LPO announced a conditional commitment of up to $289.7 million to Sunwealth to help finance Project Polo, a deployment of up to 1,000 solar photovoltaic (PV) systems and battery energy storage systems (BESS).
On November 25, 2024, LPO announced a loan guarantee of up to $4.9 billion to Grain Belt Express LLC to help finance Grain Belt Express Phase 1, a high-voltage direct current (HVDC) interregional transmission line.
On November 25, 2024, LPO announced a conditional commitment to Rivian New Horizon, LLC of up to $6.57 billion to finance the development and construction of Project Horizon, an EV manufacturing facility located in Stanton Springs North, Georgia.