US launches loan-guarantee program for clean energy projects

Baltimore (Platts)--7Aug2006

The US Department of Energy Monday launched a program that in its first
round will make $2 billion of loan guarantees available for a range of clean
energy projects.

Congress created the loan-guarantee program last year to encourage the
development of alternative fuels and low-carbon electricity sources.

"Projects eligible to receive loan guarantees are vast and varied,"
Energy Secretary Samuel Bodman said in a news conference in Baltimore.

"We hope to spur investment in new renewable energy projects, like solar
and wind, as well as clean coal technologies, and efforts that can convert
cellulosic biomass into ethanol," the secretary added.

Nuclear plants, pollution controls and oil refineries also will qualify
for the loan guarantees. DOE said that over the next year it will develop
regulations to allow it to provide billions of dollars more in federal loan
guarantees.

--Mike Schmidt, mike_schmidt@platts.com

For more news, request a free trial to Platts Inside Energy at
http://insideenergy.platts.com or subscribe now at
http://www.platts.com/infostore/product_info.php?cPath=23_33&products_id=61


 

Copyright © 2005 - Platts

Please visit:  www.platts.com

Their coverage of energy matters is extensive!!.