U.S. D.O.E. - $2 Billion Authorized in Loan Guarantees for Renewable Energy

U.S. Department of Energy (DOE) Secretary Samuel W. Bodman today unveiled DOE program guidelines for a total of $2 billion in loan guarantees to help spur investment in projects that employ new energy technologies. Secretary Bodman made the announcement in Baltimore while joining Maryland Governor Robert Ehrlich at a ribbon-cutting ceremony opening Maryland’s first State-owned E-85 fueling facility.

“With these loan guarantees we hope to encourage creativity and ingenuity that will help us strengthen our nation’s energy security,” Secretary Bodman said. “Projects eligible to receive loan guarantees are vast and varied. 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.”