Tag Archives: loan guarantee

This Week In Green Energy: Wheres The Money? …In Washington!

Capitol Building -- Washington DC

For cleantech companies Washington has become a crucial financial partner.

In the post-Lehman/global financial meltdown era it’s been repeatedly said that the money power has left Wall Street for the shores of the Potomac in Washington.

This is not just a talking point, but a stark reality for whole industries — the renewable energy sector among them– which have come to rely on Washington for their mid-to-long-term survival.

The government’s pivotal role as a funder of last and first resort was glaringly apparent this week with the announcement that BrightSource Energy was offered a $1.37 billion loan guarantee (if it meets certain conditions) from the Department of Energy. The BrightSource loan guarantee dwarfs the $535 million thin-film photovoltaic cell maker Solyndra got last year, which, until now, was the largest such loan guarantee. Continue reading This Week In Green Energy: Wheres The Money? …In Washington!

This Week In Green Energy: Where?s The Money? ?In Washington!

Capitol Building -- Washington DC

In the post-Lehman/global financial meltdown era it’s been repeatedly said that the money power has left Wall Street for the shores of the Potomac in Washington.

This is not just a talking point, but a stark reality for whole industries — the renewable energy sector among them– which have come to rely on Washington for their mid-to-long-term survival.

The government’s pivotal role as a funder of last and first resort was glaringly apparent this week with the announcement that BrightSource Energy was offered a $1.37 billion loan guarantee (if it meets certain conditions) from the Department of Energy. The BrightSource loan guarantee dwarfs the $535 million thin-film photovoltaic cell maker Solyndra got last year, which, until now, was the largest such loan guarantee. Continue reading This Week In Green Energy: Where?s The Money? ?In Washington!

Revamped DOE Loan Guarantees More Project Friendly

Last week, the Department of Energy revamped its loan guarantee program supporting clean energy projects. The funding stream has been hampered by rigid regulations ever since its inception in 2005, as part of the Energy Policy Act.

Under the new rules, the DOE says it will decide on a project basis whether its loan guarantees will have first priority if a project fails or whether to back a project on an equal basis lending.

The old rule gave the DOE first priority lien on the collateral of a failed project, which made it nearly impossible for clean energy projects to structure a financing package that included a loan guarantee, because other lenders and financial backers were pushed down the food chain. Continue reading Revamped DOE Loan Guarantees More Project Friendly