New DOE Loan Guarantee Program Offers Opportunity for Lenders


The U.S. Department of Energy’s (“DOE”) alternative energy loan guarantee program (the “Program”) was established by the Energy Policy Act of 2005 (the “Act”). Originally, the Program was aimed at providing loan guarantees for innovative energy technologies not in general commercial use in the United States. Unfortunately, since the Act’s passage DOE has issued only one commitment for a loan guarantee under the Program. However, as a result of the passage of the American Recovery and Reinvestment Act of 2009 (the “Stimulus Bill”), that is about to change. The Stimulus Bill amended the Act to provide for a new, temporary loan guarantee program (the “New Program”) facilitating the rapid deployment of renewable energy and electric power transmission projects.

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