US Energy Secretary Steven Chu announced on 29 July that the Department of Energy will provide up to US$ 30 billion in loan guarantees, depending on the applications and market conditions, for renewable energy projects.
Another US$ 750 million will support several billion dollars more in loan guarantees for projects that increase the reliability, efficiency and security of the nation’s transmission system. The two new loan guarantee solicitations announced are being funded partly through the Recovery Act and partly through 2009 appropriations. The two solicitations issued mark the sixth and seventh rounds of solicitations by the Department’s Loan Guarantee Program, which encourages the commercial use of new or improved energy technologies to help foster clean energy projects.
