ANNOUNCEMENT 01 Sep 2011
In 2011 the Department of Energy provided a loan guarantee for a geothermal energy 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 September, 2011, when Ormat Nevada, Inc. & Ormat Technologies received a guarantee for a $350 million geothermal energy project.