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Energy Department solicits advanced fossil energy projects; makes loan guarantee funds available


From the December 13, 2013 issue of Public Power Daily

Originally published December 13, 2013

By Jeannine Anderson
Editor

On Dec. 12, as part of President Obama’s Climate Action Plan, the Department of Energy published a solicitation that makes up to $8 billion in loan guarantee authority available to support fossil energy projects that avoid, reduce, or sequester greenhouse gases.

Loan guarantees under the solicitation will help provide 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 gases, DOE said.

"Currently providing 80 percent of our energy, coal and other fossil fuels will continue to be a critical part of our energy portfolio as we move toward a low-carbon future," said Energy Secretary Ernest Moniz. "By helping to accelerate the introduction of innovative, clean fossil energy technologies ready for deployment at commercial scale today, investments under this solicitation will help ensure we continue to have access to affordable, clean energy from all our domestic energy resources."

DOE said it expects to receive initial applications by the end of February.

A copy of the solicitation, which includes application deadlines, eligibility requirements and a fact sheet, is available at DOE's Loan Programs Office.

 

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