An Update on DOE's Loan Programs
May 18, 2011
President Obama has made it clear that the nation that wins the clean energy race will likely be the nation that leads the global economy. In just over two years, DOE's Loan Programs Office has become one of our most significant and most effective tools to meet this challenge and promote America's leadership in clean energy production and manufacturing.
In that time, we have issued loans, loan guarantees, and conditional commitments for loan guarantees to 28 clean energy projects, 16 of which have reached "financial close," meaning that they have met all requirements and their full loans are finalized. That equates to over $30 billion in financing for those projects with total project costs of over $47 billion. Project sponsors estimate these 28 projects will create or save over 61,000 jobs, including construction and operating jobs, while also building a foundation for clean energy technology manufacturing here in the United States. See the Energy Blog post.