Guarantees for $9 billion in clean-energy loans

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