• U.S. Department Of Energy Releases Solicitation for Applications for $8 Billion in Loan Guarantees for Advanced Fossil Energy Projects
  • January 3, 2014
  • Law Firm: Krieg DeVault LLP - Indianapolis Office
  • On December 12, 2013, the U.S. Department of Energy's Loan Programs Office ("DOE") released a solicitation ("Solicitation") for applications for up to $8 billion in loan guarantees available under Section 1703 of Title XVII of the Energy Policy Act of 2005 and the implementing regulations set forth in Part 609 under Chapter II of Title 10 of the Code of Federal Regulations (the "Final Regulations") to support advanced fossil energy projects located in the United States that employ new or significantly improved fossil energy technologies, as compared to more established technologies in service in the United States, to avoid, reduce or sequester anthropogenic emission of greenhouse gases ("GHG"). Given that fossil fuels, which currently provide more than 80 percent of energy in the United States, are expected to remain the largest source of energy for the foreseeable future, the DOE has indicated that the Solicitation is intended to help ensure the adoption of technologies to use fossil fuels more cleanly and efficiently as part of a low carbon future and in furtherance of the Obama Administration's Climate Action Plan.