...announced up to $8 billion in loan guarantee authority to support innovative advanced fossil energy projects that avoid, reduce, or sequester greenhouse gases.
Houston, TX (PRWEB) January 16, 2014
Davidson leads the Energy Department’s multi-billion-dollar federal loan program for traditional and alternative energy. The program finances a wide range of fossil, nuclear, solar, wind, geothermal, efficiency and biomass energy projects. He also heads the federal loan program for U.S. advanced automotive manufacturing technology projects.
In December, Davidson’s office announced up to $8 billion in loan guarantee authority to support innovative advanced fossil energy projects that avoid, reduce, or sequester greenhouse gases. Loan guarantees under this new solicitation are expected to help provide critical financing to support new or improved advanced fossil energy projects – such as advanced resource development, carbon capture, low - carbon power systems, and efficiency improvements – that reduce emissions of carbon dioxide, methane, and other greenhouse gas pollution.
The Energy Department’s loan program gained notoriety prior to Davidson’s arrival for a $535 million loan guarantee to Solyndra, a solar panel maker that went bankrupt in 2011. The program also offered $8.3 billion in loan guarantees for Georgia Power’s Vogtle nuclear plant expansion, $1.3 billion for the 845-MW Caithness Shepherds Flat wind project in Washington State, and $967 million for NRG Solar’s 290-MW Agua Caliente solar photovoltaic project in California. Its current loan portfolio stands at $32.4 billion, and includes loans made through the 1703, 1705, and ATVM programs.
The EP Theater is open to all registered ELECTRIC POWER attendees and expo hall visitors and is located on the exhibit floor in the Ernest N. Morial Convention Center in New Orleans. The EP Theater will be the site of multiple presentations during ELECTRIC POWER’s three-day run, including a presentation on Disaster Preparedness Planning from Greg Grillo, Entergy's Storm Incident Commander, industry forecasts from Industrial Info Resources, the inaugural Faraday Award/Veterans in Power program and the annual POWER magazine Top Plants awards. Full details on the EP Theater, conference sessions, special events, and exposition may be found at http://www.electricpowerexpo.com.