DOE and Treasury Actions Open the Gate for the Flow of Renewable Energy Stimulus Package Funds

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On July 29, 2009, the U.S. Department of Energy ("DOE") released two solicitations for applications for renewable energy and transmission projects under its loan guarantee program. The DOE announcement was followed, on July 31, by the U.S. Department of the Treasury ("Treasury") announcement that it is now accepting applications for cash payments in lieu of Investment Tax Credits. These two actions will soon start the flow of funds from the economic stimulus package aimed at supporting rapid investment in the U.S. renewable energy sector.

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