The U.S. Department of Energy published a solicitation today, making up to $8 billion in loan guarantee authority available to support innovative advanced fossil energy projects that avoid, reduce, or sequester greenhouse gases. Authorized by Title XVII of the Energy Policy Act of 2005, loan guarantees under this new solicitation will help provide critical financing to support new or significantly improved advanced fossil energy projects – such as advanced resource development, carbon capture, low-carbon power systems, and efficiency improvements – that reduce emissions of carbon dioxide, methane, and other greenhouse gas pollution.
The Department published a draft solicitation on July 9, 2013, which opened a 60-day comment period. During this time, the Department listened to potential applicants and other stakeholders and then incorporated their feedback into the solicitation. As a result, the solicitation includes new provisions intended to facilitate applications, ensure quick review, and foster successful public-private partnerships.
Projects in the Department’s Loan Programs Office portfolio include one of the world’s largest wind farms; several of the world’s largest solar generation and thermal energy storage systems; the first new commercial nuclear power plant to be licensed and built in the U.S. in three decades; an electric vehicle manufacturing company that repaid its loan ahead of schedule and is now developing an export market; and more than a dozen new or retooled auto manufacturing plants across the country.
A copy of the solicitation, which includes application deadlines and eligibility requirements, and a fact sheet can be found at lpo.energy.gov.