Department of Energy Draft Renewable Energy and Efficient Energy Loan Guarantee Solicitation Alert

On April 16, 2014, the U.S. Department of Energy (DOE) Loan Programs Office (LPO) issued a draft loan guarantee solicitation for renewable energy and efficient energy projects and facilities. The draft solicitation is targeted to support projects that substantially reduce greenhouse gas emissions and support innovative new technologies that are catalytic and replicable in their respective markets. At this time, $2.5 billion to $4 billion in loan guarantee authority is expected to be made available via the final solicitation. Guaranteed loans would be provided by the federal government in a direct transaction with the borrower. There is no need for a lender of record or other involvement of commercial or investment banks.

Comments on the draft solicitation are due to the DOE by May 16, 2014, and the LPO will host public comment meetings April 21 in Austin, April 24 in Denver, April 28 in Arlington, and May 6 in Minneapolis. WSGR anticipates that a final solicitation will then be issued in June or July of 2014.

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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