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Saturday, September 24, 2011

Energy Dept Finalizes 3 loan guarantees totaling $624 million


The Department of Energy finalized three loan guarantees on Friday totaling up to $623.9 million. The Obama White House is working to finalize about a dozen loan guarantees as part of a program funded under the 2009 stimulus law that is set to expire at the end of the month. The loan guarantees are for advanced energy projects such as wind, solar and biofuels. None of the three loan guarantees are for solar projects.

The Energy Department finalized on Friday:

$168.9 million partial loan guarantee to Granite Reliable Power for a wind project in New Hampshire;

$350 million to Ormat Nevada, Inc. for a geothermal power project in the state; and

A $105 million loan guarantee to POET for a cellulosic ethanol

The Obama White House remains committed to investing in clean green jobs energy projects. (The Hill, 9/23/2011)


What kinds of projects have received loan guarantee commitments under Sections 1703 and 1705 of Title XVII of the Energy Policy Act of 2005? The 22 projects that have received loan guarantee commitments (conditional or final awards) include nuclear generation, energy efficiency, solar generation, solar manufacturing, battery storage, energy storage, wind generation, wind manufacturing, advanced biofuels, transmission, and geothermal. (Energy Forum, 5/10/2011)

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