|
|
DOE Loan Programs Office
Having trouble viewing this email? View it as a Web page.
https://content.govdelivery.com/accounts/USDOELPO/bulletins/34eee74
|
|
IN THIS ISSUE:
...and more updates below from the U.S. DOE Loan Programs Office!
|
|
|
Another massive boost for America's domestic EV battery supply chain! LPO announced in February a $375 million conditional commitment to Li-Cycle for its first-of-a-kind battery recycling facility in Rochester, New York. If issued, this loan will help Li-Cycle, already North America’s largest lithium-ion sustainable pure-play battery recycler, further expand its operations.
This conditional commitment is the fifth EV supply chain project announced under the Advanced Technology Vehicles Manufacturing (ATVM) program within the past year and the first conditional commitment from the program that supports a resource recovery facility by a sustainable pure-play lithium-ion battery recycling company.
Read the full Li-Cycle conditional commitment announcement for more details and see a recording of the Li-Cycle conditional commitment announcement event featuring remarks by LPO Director Jigar Shah.
|
|
|
The Loan Programs Office’s (LPO) FY 2024 Budget Request comes at a time of historically high activity for LPO – having announced three new conditional commitments to Li-Cycle, Redwood Materials, and Rhyolite Ridge in the first two months of 2023. In addition, applicant interest in LPO as one of the nation’s largest source of financing for eligible energy and supply chain technologies continues to grow, with over $124 billion in active applications as of February 2023.
Read the full blog piece to learn more about how LPO’s FY 2024 Request will allow it to support its growing portfolio effectively while also stewarding the taxpayer’s dollar dutifully, playing a key part in the Biden Administration’s efforts to achieve a net-zero emissions economy, support and provide clean energy benefits to underserved and overburdened communities, and support the manufacture and deployment of clean energy technologies nationwide.
|
|
|
This Sector Spotlight focuses on how DOE’s Loan Programs Office (LPO) can support virtual power plant (VPP) projects to add demand flexibility, increase affordable clean energy access, and prepare the grid for electrification at scale. VPPs rely on the deployment of distributed energy resources (DERs) at scale, and it is imperative to help make affordable, resilient, and clean energy accessible to all Americans.
Through the Title 17 Clean Energy Financing program, LPO can provide appropriated funding to support the adoption of VPP-enabled DERs. As of the end of February 2023, requested loans for VPP-based projects accounted for the fifth most requested among all tech sectors, behind only Advanced Vehicles & Components, Advanced Nuclear, Carbon Management, and Biofuels sector applications.
Read the full Virtual Power Plants sector spotlight for more insights into the market dynamics of VPPs and an overview of how LPO is actively working to support scale-up of the VPP sector.
|
|
|
With February's announcement of yet another conditional commitment—this time for a $375 million critical materials loan to Li-Cycle—you may be wondering how LPO manages risk and conducts due diligence.
In this video, LPO Director Jigar Shah explains everything you need to know about how LPO manages risk at all transaction phases from the due diligence period all the way through conditional commitment, financial close, and finally, loan payoff.
Watch the video and read the transcript on LPO's blog.
|
|
|
Big news for the next generation of American nuclear energy from LPO's portfolio! Georgia Power Company has announced that Unit 3 of Plant Vogtle near Waynesboro, Georgia, has safely reached initial "criticality," which is a key step during the start-up testing sequence and demonstrates that operators have safely started the nuclear reaction inside the reactor. Once all four units are operating, Plant Vogtle will be the largest clean energy generator in the United States. As LPO Director Jigar Shah observed, “With projects like the Vogtle nuclear plant, the United States is once again being looked to as an exporter of nuclear technology and leader in achieving our energy, climate, and jobs goals.”
Read the full blog piece to learn more about how LPO and Plant Vogtle are shaping the energy transition through nuclear technology.
|
|
LPO Outreach & Business Development Team Meets with Hundreds of Companies, Founders, and Innovators at CERAWeek 2023
CERAWeek 2023 (March 6-10) wrapped up this year with members of LPO's Outreach & Business Development team having met in person with hundreds of potential applicants for clean energy, advanced transportation, and Tribal energy DOE loans and loan guarantees. LPO staff—including LPO Director Jigar Shah—also appeared in a number of Innovation Agora panels and executive conference sessions along with Secretary Granholm and experts from across the Department of Energy.
The LPO team is energized by the dozens of in-person meetings and looks forward to keeping the momentum going and continuing conversations with potential applicants!
If you didn't have a chance to meet with the LPO team at CERAWeek, contact us and let’s talk about your project! Call or write to schedule a no-fee, pre-application consultation: Energy.gov/LPO/Contact-Us and learn more about LPO and all of its financing programs: Energy.gov/LPO We look forward to working with you!
Major Upcoming Events
Reservation Economic Summit 2023 • 3-6 Apr 2023 • Las Vegas, NV
NAFOA 41st Annual Conference • 24-25 Apr 2023 • Washington, DC
NREL Industry Growth Forum • 2-3 May 2023 • Denver, CO
|
|
Sign up for clean energy financing updates from LPO
Subscribe to LPO's monthly email newsletter to stay up to date with the latest from the U.S. Department of Energy Loan Programs Office, including announcements about our financing programs, news about our portfolio projects, and ways to engage with our team about your project!
|
|
|
You have received this message because you are subscribed to updates from DOE Loan Programs Office. If you received this email update as a forward, be sure to sign up to receive this update in your inbox!
Manage Subscriptions | Unsubscribe All | Help
|
|
|
|
|
