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DOE announced a conditional commitment for more than $1.37 billion in loan guarantees to BrightSource Energy, Inc. in support of the construction and start-up of three utility-scale concentrated solar power plants (CSP) in the Mojave Desert of southeastern California. The loan guarantee is funded under the American Recovery and Reinvestment Act and is predicated on…

Stoel Rives would like to congratulate REC Silicon and SolarWorld on their awards of tax credits by the IRS and DOE. These two companies, combined, received over 10 percent of all the tax credits awarded nationwide under section 48C of the tax code.

On Friday, January 8, the Department of Energy awarded to 183 companies…

The Department of Energy (“DOE”) announced today that the National Renewable Energy Laboratory (“NREL”) will invest up to $12 million in total funding ($10 million from funds allocated to NREL under the American Recovery and Reinvestment Act (“ARRA”)) in four companies – three California and one North Carolina –  to take early stage PV…

The Department of Energy today announced the award of more than $37 million in American Recovery and Reinvestment Act funds to 17 projects supporting solid-state lighting core research, product development, and domestic manufacturing.

Solid-state lighting, which uses light-emitting diodes (“LEDs”) and organic light-emitting diodes (“OLEDs”) instead of incandescent bulbs, has the potential to be ten…

January 8, 2010: today President Obama announced the award of $2.3 billion in American Reinvestment and Recovery Act (“ARRA”) Advanced Energy Manufacturing Tax Credits for tens of thousands of clean energy jobs on 183 clean energy manufacturing projects across the 43 states. United States, including the domestic manufacture of wind turbine and solar panels. The

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Today Energy Secretary  Chu announced that the Department of Energy will award $47 million for 14 nation-wide projects  that will support the development of new technologies improving energy efficiency in the information technology (IT) and communications sectors – specifically, data processing, data storage, and telecommunications industries. The increase in energy consumption in these sectors is a direct corollary…

On December 7, 2009, Energy Secretary Steven Chu announced the issuance of a final rule amending the October, 2007 Final Regulations implementing the Loan Guarantee Program under Section 1703 of Title XVII of the Energy Policy Act of 2005 (the "Section 1703 Program").  The amendments implemented through the final rule were first identified in a Notice of Proposed Rulemaking and Opportunity for Comment  issued by the Department of Energy ("DOE") on August 7, 2009.  The comment period for the proposed amendments ended on September 22, 2009; the comments received by the DOE from the industry and other interested parties were largely supportive of the proposed amendments.

In a nutshell, the amendments to the regulations outlined in the final rule are designed to:

  • provide flexibility in the determination of an appropriate collateral package to secure the guaranteed loan obligations;
  • eliminate the requirement that the Secretary receive a first priority lien on all project assets as a condition for obtaining the loan guarantee;
  • facilitate collateral sharing and related intercreditor arrangements with other project lenders; and
  • provide a more workable interpretation of certain statutory provisions regarding DOE’s treatment of collateral that is more consistent with the intent and purposes of Title XVII.

Continue Reading U.S. Department of Energy Announces Final Rule Amending Regulations for Loan Guarantee Program

 

On December 2, House Ways & Means Chairman Rangel and Ranking Member Camp introduced a tax technical corrections bill (H.R. 4169).  We will likely see an identical version introduced in the Senate very soon.

Included among the technicals are changes to the Grant in Lieu of ITC under section 1603 of ARRA.  The most

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