DOE loan guarantee

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Late last week, the United States Dept. of Energy (“DOE”) Loan Program Office issued a final solicitation for projects seeking loan guarantees titled “Federal Loan Guarantees for Renewable Energy Projects and Efficient Energy Projects.”  Issued under the DOE’s Section 1703 Loan Program (named for Section 1703 of Title XVII of the Energy Policy Act of 2005), the Renewable and Efficient Energy Projects solicitation will make up to $2.5 billion in direct loan guarantees* available to “catalytic projects”- i.e., those that will push the commercial deployment of innovative technologies in future projects. Download a copy of the solicitation (PDF). 

We provide a checklist of project eligibility, program requirements and the loan guarantee application process below.…

Continue Reading Qualification and Application Checklist for New DOE Loan Guarantee Solicitation for Renewable Energy and Efficiency Projects

On August 12, 2010, Energy Secretary Steven Chu announced a new loan guarantee solicitation for renewable energy manufacturing projects.  The Commercial Technology Renewable Energy Manufacturing Projects solicitation (the "Solicitation") is supported by the American Recovery and Reinvestment Act (the "Recovery Act") through Section 1705 of the Loan Guarantee Program and is focused primarily on providing new green energy jobs and the deployment of renewable energy technologies that reduce greenhouse gas emissions.

The solicitation specifically identified "Eligible Projects" to include renewable energy manufacturing projects or facilities located in the United States that:

  • Manufactures Commercial Technology products that support the generation of electricity or thermal energy from renewable resources;
  • Has Project Costs greater than seventy-five million dollars ($75,000,000);
  • Is able to obtain a credit rating equivalent of "BB" or better from Standard & Poor’s or Fitch, or "Ba2" or better from Moody’s, as evaluated without the benefit of any DOE guarantee or any other credit support;
  • Will create or retain jobs in the United States; and
  • Otherwise meets all applicable requirements of Title XVII, including Section 1705, the Solicitation, including all attachments and all applicable requirements of the Recovery Act.

The Solicitation also provided, for illustrative purposes, examples of the types of Eligible Projects that may qualify, which include the following:

  • wind energy component or systems manufacturing facilities;
  • solar photovoltaic (PV) component or system manufacturing facilities;
  • concentrated solar power component or system manufacturing facilities;
  • hydropower component or system manufacturing facilities;
  • geothermal component or system manufacturing facilities;
  • other geothermal power cycle component or system manufacturing facilities; or
  • ocean wave, tidal, and river current (e.g. hydrokinetic) component or system manufacturing facilities

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Continue Reading Clean Energy Jobs Focus of New Manufacturing Solicitation Issued by the DOE