DOE Announces More Than $30 Billion in Loan Guarantee Funding for Certain Renewable Energy, Energy Efficiency and Transmission Projects
By Jeff Schroeder, Eric Pogue and Alan Eskandari
On July 29, 2009, DOE announced two new loan guarantee opportunities, which collectively make over $30 billion of loan guarantee funding available for certain renewable energy, energy efficiency and transmission projects. The first solicitation (the July 29 Innovative Technology Solicitation) will provide guarantees under Section 1703 of the Energy Policy Act of 2005 (EPAct 2005) for innovative energy efficiency, renewable energy, advanced transmission and distribution technologies and certain leading edge biofuel technologies. The second solicitation (the July 29 Transmission Solicitation) will provide guarantees under the new loan guarantee authority created by the American Recovery and Reinvestment Act of 2009 (the Recovery Act) for certain electric power transmission infrastructure investments.