DOE invites bids for $750m clean energy loan guarantees

August 13, 2010

The DOE's fourth solicitation for renewable energy manufacturing loan guarantees aims to support creation of new jobs and a reduction in greenhouse gas emissions
The US Department of Energy is inviting renewable energy manufacturers to apply for up to $750 million in loan guarantees to support projects that will create green jobs.

It is offering assistance from Recovery Act funds to support efforts to expand the nation’s ability to produce components like wind turbine systems, blades or solar photovoltaic systems.

A solicitation was issued yesterday, kicking off a two-stage application process with an initial deadline for the first application stage at the end of September, with an initial deadline for the second application stage at the end of November.

The final deadline for the Part 1 application will be November 30, while the final deadline for the Part 2 application will be January 31, 2011.

Loan guarantees will be available for renewable energy projects that start construction before September 30, 2011.

State-of-the-art

Energy Secretary Steven Chu said: “The Department’s manufacturing solicitation will help more Americans get back to work while accelerating economic development.

“To keep pace in the global market, we need to build and expand U.S.-based state-of-the-art manufacturing facilities,” added Secretary Chu.

Yesterday’s solicitation was the fourth such request for renewable energy manufacturing proposals under the Department’s loan guarantee program.

Following recommendations from the Government Accountability Office last month (see this BrighterEnergy.org story) the DOE has revised its loan guarantee solicitation to provide “greater transparency” on its application and evaluation processes.