WASHINGTON, D.C. -- The U.S. Department of Energy (DOE) is offering $10 billion in loan guarantees for renewable energy and energy efficiency projects.
The guarantees are part of a $30.5 billion package announced June 30, marking the second round of solicitations for the DOE's Loan Guarantee Program. The package includes $18.5 billion in loan guarantees for nuclear power projects and $2 billion for advanced nuclear power projects focusing on the "front-end" of the nuclear fuel cycle.
In the area of renewables and energy efficiency, the DOE seeks projects relating to biomass, geothermal, solar and wind energy, as well as projects involving hydropower or alternative fuel vehicles. The solicitation also seeks projects that embrace energy efficient building technologies and efficient electricity transmission, distribution, and storage. In addition, the DOE said it will issue loan guarantees for stand-alone projects and those that involve manufacturing technologies and the large-scale integration of renewable energy, energy efficiency and energy storage technologies into the electrical grid.
Later this summer, the DOE will solicit loan guarantee applications for as much as $8 billion for advanced fossil energy projects, the agency said.
The DOE's loan guarantees will "enable project developers to bridge the financing gap between pilot and demonstration projects to full commercially viable projects that employ new or significantly improved energy technologies," said Acting Deputy Secretary of Energy Jeffrey F. Kupfer. "Projects supported by loan guarantees will help meet President Bush's goal of diversifying our nation's energy mix with energy projects that will improve the environment while increasing energy efficiency," Kupfer said in a statement.
Department of Energy
www.doe.gov
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