Guarantees for $9 billion in clean-energy loans

11 May 2007

[DoE, 10 May] Keeping to language in the Energy Policy Act 2005, the administration of US President George Bush will provide guarantees of up to 90% of loans required for clean-energy projects, as long as the debt does not exceed 80% of the total project cost. Of $9 billion requested by DoE for the guarantees in its FY2008 request, the department may guarantee $4 billion to central power stations such as nuclear or carbon sequestering coal-fired plants. Another $4 billion could go to support biofuels and clean transportation fuels, and $1 billion to electricity transmission and renewable power systems. Some senior politicians had been concerned that the Bush administration would set different rules that could lead to fewer projects going ahead.

Further information

US Department of Energy

WNN: US action to support clean energy