Projects that may be eligible for a loan guarantee include: Renewable energy systems including wind, photovoltaics, biomass and hydropower projects; Advanced fossil energy technology including gasification, integrated gasification combined cycle, industrial gasification, petroleum coke gasification and coal to oil liquefaction projects; Efficient end use technologies; Hydrogen fuel cell technology for residential, industrial, or transportation applications; Advanced nuclear energy facilities; Carbon capture and sequestration practices and technologies, including agricultural and forestry practices that store and sequester carbon; Efficient electrical generation, transmission, and distribution technologies; Efficient end-use energy technologies; Production facilities for fuel efficient vehicles, including hybrid and advanced diesel vehicles; Pollution control equipment; and Refineries, meaning facilities at which crude oil is refined into gasoline.
The Department of Energy's goal is to advance national, economic and energy security in the U.S.; to promote scientific and technological innovation in support of that goal; and to ensure environmental cleanup of the national nuclear weapons complex.
Final regulations have been published for the Loan Guarantee Program in the Federal Register: 10 CFR Part 609, Loan Guarantees for Projects That Employ Innovative Technologies; Final Rule, October 23, 2007. Sixteen project sponsors, who submitted preapplications, have been invited to submit full applications for loan guarantees.
Uses and Use Restrictions
The assistance provides Federal loan guarantees for commercial technologies that avoid, reduce, or sequester air pollutants or anthropogenic emissions of greenhouse gases; and employ new or significantly improved technologies as compared to commercial technologies in service in the United States at the time the guarantee is issued and which provide a reasonable assurance of repayment.
Further Program information may be found at http://www.lgprogram.energy.gov.
Any corporation, company, partnership, association, society, trust, joint venture, joint stock company, or governmental nonfederal entity, that has the authority to enter into, and is seeking, a loan guarantee for a loan or other debt obligation of an Eligible Project.
Small businesses, profit organizations, quasi-public nonprofits, public institutions and interstate, intrastate, State and local governments will benefit from the loan guarantee program.
Aplication and Award Process
This program is excluded from coverage under E.O.
Application procedures for a Department of Energy Title XVII loan guarantee are unique to each solicitation issued by the Department. Potential applicants should only apply for a loan guarantee under the specific funding opportunity announcement posted on the Federal Government website at http://www.fedconnect.net. For additional information, see final regulations, 10 CFR Part 609, Loan Guarantees for Projects That Employ Innovative Technologies; Final Rule, published on October 23, 2007.
Award Procedures are identified in the individual solicitations.
Deadlines are identified in the solicitation.
Energy Policy Act of 2005, Public Law 109-58, 119 Stat. 1117-1122, Title XVII, 42 U.S.C. 15801, August 8, 2005.
Range of Approval/Disapproval Time
The Range of approval/disapproval times are identified in individual solicitations.
Formula and Matching Requirements
Except for division C of Public Law 108-324, the Secretary shall make guarantees under this or any other Act for projects on such terms and conditions as the Secretary determines, after consultation with the Secretary of the Treasury. This program has no statutory formula. This is a "self-pay" program. Applicants will pay the subsidy costs as determined by the credit subsidy calculation. Also, fees will be charged to recover DOE's administrative costs in managing the Loan Guarantee Program. A fee schedule will be determined. No guarantee shall be made unless: (1) an appropriation for the cost has been made; or (2) the Secretary has received from the borrower a payment in full for the cost of the obligation and deposited the payment into the Treasury. (42 U.S.C. 16512.)
Length and Time Phasing of Assistance
The term of an obligation shall require full repayment of principle and interest on the Guaranteed Obligations and other project debt over a period of up to the lesser of 30 years or 90 percent of the projected useful life of the project's major physical assets as calculated in accordance with generally accepted accounting principles and practices.
Post Assistance Requirements
Costs incurred are subject to audit throughout the guarantee period and before final close-out. The extent and frequency of audits depend on the size of the guarantee and the specific guarantee provisions.
A recipient of a guarantee shall keep such records and other pertinent documents as the Secretary shall prescribe by regulation, including such records as the Secretary may require to facilitate an effective audit. The Secretary and the Comptroller General of the United States, or their duly authorized representatives, shall have access, for the purpose of audit, to the records and other pertinent documents.
(Federal Loan Guarantee Authority) FY 07: 4,000,000,000; FY 08: $38,000,000,500; and FY 09 est not available.
Range and Average of Financial Assistance
The value of the loan guarantee will be determined on a project by project basis.
Regulations, Guidelines, and Literature
The following list represents an overview of regulations, guidelines, and literature associated with the loan guarantee program. Solicitation Number: DE-PS01-06LG00001, - Loan Guarantee Solicitation Announcement, - Federal Loan Guarantees for Projects that Employ Innovative Technologies in Support of the Advanced Energy Initiative, Available at: http://www.lgprogram.energy.gov/Solicitationfinal.pdf Guidelines for Proposals Submitted in Response to the first Solicitation under Title XVII of the Energy Policy Act of 2005, Available at: http://www.lgprogram.energy.gov/FinalGuidelines.pdf. - Final Regulations - Final regulations were published in the Federal Register, 10 CFR 609, Loan Guarantees for Projects That Employ Innovative Technologies; Final Rule, on October 23, 2007.
Regional or Local Office
Loan Guarantee Program Office, U.S. Department of Energy, 1000 Independence Ave, SW, Washington, DC 20585; firstname.lastname@example.org. Telephone: (202) 586-8336.
Criteria for Selecting Proposals
Refer to solicitation and guidelines for the criteria to be utilized.
REDF, a San Francisco-based nonprofit, will receive a $7 Million grant from the federal Social Innovation Fund program.