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DOE Loan Programs Office
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IN THIS ISSUE:
...and more updates below from the U.S. DOE Loan Programs Office!
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Happy birthday to the Inflation Reduction Act (IRA) from LPO! One year after President Biden signed this landmark legislation into law, LPO is taking stock of the transformational twelve months we've had on behalf of all Americans.
From announcing a total of $13.5 billion in conditionally committed financing poised to help onshore and re-shore EV manufacturing, battery supply chains, and critical materials production, to a $3 billion, nationwide, first-ever virtual power plants (VPPs) project conditional commitment, to extending direct loan authority for Tribal Energy project financing, to the introduction of new programs for projects that reinvest in energy infrastructure, and offer more options for non-innovative technology project financing, the IRA has truly expanded opportunities for game-changing clean energy project financing in the U.S.
One year after the IRA, LPO is open for business like never before, helping to build a bridge to bankability for American clean energy technologies, energy infrastructure, and supply chains. Read the full IRA anniversary blog article.
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Big news for the next generation of American nuclear energy from LPO’s portfolio! Georgia Power Company, a subsidiary of Southern Company, today announced that Plant Vogtle Unit 3—the first newly constructed nuclear unit in the United States in over 30 years—has safely reached the start of commercial operations. Georgia Power reports that Vogtle Unit 3 can power an estimated 500,000 homes and businesses, while Vogtle Unit 4 is in the final stages of construction and testing and projected to enter service in late 2023 or early 2024.
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, “We respect the perseverance and grit of Southern Nuclear to get this plant completed. It makes a nuclear renaissance possible.”
Read the full blog article to learn more about how LPO and Plant Vogtle are shaping the energy transition through nuclear technology.
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LPO "Tech Talks" is a blog series that dives deep into the major clean energy and advanced transportation technology sectors that may be eligible for project financing through LPO loan programs.
The latest entry in the series focuses on the electric grid supply chain, which is a key part of the Biden-Harris Administration’s ambitious goals to decarbonize the power sector by 2035 and the economy by 2050. Michael Reed, LPO’s Director of the Technical and Project Mangement Division, explains, “Early grid infrastructure has outlasted its expected lifetime and continues to operate, but the modern energy economy demands a secure, updated grid.”
Read the latest Tech Talk to see how LPO can finance innovative projects across the electric grid supply chain.
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LPO is looking to hire employees from all backgrounds and from across the nation for a variety of positions. A wide range of clean energy careers are available for individuals with skills and interests in business development, financial, technical, legal, risk, and environmental fields, all of which help borrowers move through pre-application consultations, the application process, due diligence, and the underwriting process. Examples of skill sets needed include: Physical Scientists, Engineers, Loan Specialists, Outreach & Business Development Specialists, Legal & Attorney Advisors, Program Management Analysts, Officers & Credit Risk Officers, and Economists.
Visit LPO’s new Careers page to search specific roles being actively recruited for and to read detailed instructions on how to apply!
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As fall rolls around, LPO is upping its industry engagement and co-hosting an inaugural gathering in Washington, DC.
During September 11-14, LPO will be actively engaging with industry at RE+ in Las Vegas, Nevada, one of the country’s largest clean energy trade shows. Due to the breadth of clean energy sectors represented at RE+, it offers LPO an opportunity to connect in-person with industry participants in many of the sectors that have been engaging with LPO—particularly virtual power plants (VPPs) and the solar supply chain. If you’ll be attending RE+, you can schedule an in-person meeting with LPO about a pre-application consultation or discuss pathways to commercial liftoff for VPPs by using the following link: https://outlook.office365.com/owa/calendar/LPOatRE@USDOE.onmicrosoft.com/bookings/
The following week (September 17-24), members of LPO will be participating in number of events at Climate Week NYC, engaging in dialogue with institutional investors, lenders, and other financial sector stakeholders about how LPO and the private sector can help finance commercial liftoff of clean energy technologies. Learn more about what Climate Week NYC sessions LPO will be participating in.
Finally, LPO is co-hosting Demonstrate Deploy Decarbonize 2023—also known as #Deploy23—with the Cleantech Leaders Climate Forum in Washington, DC from September 26-27. Deploy23 is about catalyzing deployment and investment to scale up the next generation of infrastructure to achieve net zero – while creating good jobs, strengthening domestic supply chains, and ensuring benefits are equitably shared.
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 This September 26-27, LPO will be co-hosting an in-person gathering of clean energy leaders from across the nation—including the U.S. Department of Energy (DOE), the private sector, nonprofits, and more—in Washington, D.C. for the inaugural edition of Demonstrate Deploy Decarbonize 2023, also known as #Deploy23, to take the discussion of how to scale up, liftoff, and "deploy deploy deploy" clean energy technology to the next level.
Be sure to follow the Demonstrate Deploy Decarbonize LinkedIn page to stay up to date on the latest news about #Deploy23 and for more information—and to request a registration code—please visit the Demonstrate Deploy Decarbonize 2023 website: Deploy23.org
Recent Events
- California Tribal Leaders' Clean Energy Summit (Aug 7-9) and through a webinar hosted by the Midwest Tribal Energy Resources Association (MTERA).
- LPO’s outreach and business development lead in the hydrogen sector, Ed Davis (contractor) spoke to potential applicants and industry stakeholders at HydrogeNext and the Hydrogen Hubs Summit.
- LPO’s outreach and business development lead in the carbon management sector, Harry Warren (contractor), continued engaging with the industry at that 2023 Office of Fossil Energy and Carbon Management/National Energy Technology Laboratory Carbon Management Research Project Review Meeting and the USEA Inaugural Carbon Management Technology Showcase.
Major Upcoming Events
Hydrogen Hubs Summit • 28-30 Aug 2023 • Houston, TX
RE+ • 11-14 Sep 2023 • Las Vegas, NV
Climate Week NYC • Sep 17-24 • New York, NY
Offshore Wind Port & Vessel Summit • Sep 21-23 • New Orleans, LA
Texas Tribune Festival • Sep 22 • Austin, TX
Demonstrate Deploy Decarbonize 2023 • Sep 26-27 • Washington, DC
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