Obama Administration Announces Billions in Lending Authority for Renewable Energy Projects and to Modernize the Grid

U.S. Department of Energy

July 29, 2009

Loan Guarantees Will Help Create New Jobs while Fostering Clean Energy Innovation

Washington, DC – U.S. Energy Secretary Steven Chu announced today that the Department of Energy will provide up to $30 billion in loan guarantees, depending on the applications and market conditions, for renewable energy projects. Another $750 million will support several billion dollars more in loan guarantees for projects that increase the reliability, efficiency and security of the nation’s transmission system. The two new loan guarantee solicitations announced today are being funded partly through the Recovery Act and partly through 2009 appropriations.

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