Client Alert
| October 14, 2009
Department of Energy Issues Loan Guarantee Solicitation to Lenders for Commercial Renewable Energy Generation Projects
On October 7, 2009, the U.S. Department of Energy (“DOE”) Loan Guarantee Program Office issued its third loan guarantee solicitation under the American Recovery and Reinvestment Act of 2009 (“ARRA”), which added a new Section 1705 “Rapid Deployment” program for commercial technologies to Title XVII of the Energy PolicyAct of 2005 (“Title XVII”).1 Unlike DOE’s earlier loan guarantee solicitations, the new solicitation, “Federal Loan Guarantees for Commercial Technology Renewable Energy Generation Projects Under the Financial Institution Partnership Program” (the "Solicitation”),2 is not aimed at borrowers and project sponsors. Instead, DOE invites eligible lenders to apply for partial loan guarantees in support of debt financing for commercial renewable energy generation projects in the United States that commence construction on or before September 30, 2011.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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