DOE Announces New Loan Guarantees For Conventional Renewable Energy Projects


On October 7, 2009, the U.S. Department of Energy ("DOE") released a new solicitation for applications for renewable energy projects under its loan guarantee program. Unlike previous DOE solicitations, which focused on loan guarantee applications to support new or innovative technologies not in general use in the marketplace, this new solicitation targets applications for conventional renewable energy projects such as wind, solar, biomass, geothermal and hydropower. In addition, this solicitation initiates a new Financial Institution Partnership Program ("FIPP") in which proposed borrowers do not apply directly to the DOE, but rather work with qualifying financial institutions that apply to the DOE for a loan guarantee. The total amount of funding under this new solicitation is $750 million, which the DOE envisions supporting from $4 billion to $8 billion in new renewable energy projects.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: General Business Updates, Energy & Utilities Updates, Environmental Updates, Finance & Banking Updates

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.

© Duane Morris LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »