ANNOUNCEMENT 31 Aug 2011
In 2011 the Department of Energy provided a loan guarantee for a photovoltaic solar project.
NUMBER OF INTERVENTIONS
Title XVII of the Energy Policy Act of 2005 authorizes the U.S. Department of Energy to issue loan guarantees for certain projects. One of the requirements is that the project must be located in the United States. Other requirements are that the project must utilize a new or significantly improved technology; avoid, reduce or sequester greenhouse gases; and have a reasonable prospect of repayment.
One such loan guarantee came in August, 2011, when Global Infrastructure Partners and MidAmerican Renewables, LLC received a guarantee for a $967 million photovoltaic solar project.