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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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Since President Biden signed the Infrastructure Investment and Jobs Act—more commonly known as the Bipartisan Infrastructure Law (BIL)—on November 15, 2021, the DOE Loan Programs Office (LPO) has made significant strides in advancing its mission to finance large-scale, all-of-the-above energy infrastructure projects in the United States.
Read the full blog for insights into how the BIL has positively impacted LPO’s work, including providing specific support for projects related to EV charging infrastructure, advanced transportation, and other mobility solutions; and a wide range of other projects designed to modernize and upgrade American infrastructure, thereby enhancing U.S. competitiveness.
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A Community Benefits Plans (CBP) is an essential part of LPO’s loan application process, from early application materials to closing and throughout the life of the loan. Through CBPs, LPO is asking companies taking on clean energy projects to work hand in hand with community and labor stakeholders, as well as Tribal and local governments, to thoughtfully improve the well-being of residents and workers and ensure we deliver on President Biden’s commitment to build the economy from the bottom up and middle out.
Read the full blog to learn more about CBPs and how they fit into the LPO process.
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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.
This entry in the Tech Talk blog series focuses on the carbon management 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 Environmental Division, explains, “LPO can finance projects across the carbon management supply chain, which may include, but are not limited to: point-source carbon capture, carbon dioxide removal, carbon dioxide transport, carbon dioxide storage, and carbon dioxide utilization (also called carbon conversion).”
DOE’s Pathways to Commercial Liftoff for Carbon Management (Overview, Decarbonizing Chemicals & Refining, and Low-Carbon Cement) also discusses the real but solvable barriers to carbon management technology deployment at scale. These include breaking through near-term bottlenecks in transport and storage, including permitting, siting, and community buy-in; long-term revenue certainty; challenging project economics in hard to decarbonize sectors such as cement, steel, refining, and chemicals; and other barriers.
Read the full Tech Talk on Carbon Management and learn more about the Carbon Management Liftoff Report to see how LPO can finance innovative projects across the carbon management supply chain.
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In addition to other ATVM evaluation criteria, Automotive Manufacturing Conversion Project applications will be reviewed considering criteria to ensure that projects minimize risks to project success, including by implementing effective strategies to retain and attract a skilled workforce and avoid labor strife. Examples include retaining existing workers, providing high wages and benefits, including workplace rights, or commitments such as keeping the existing facility open until a new facility is complete, in the case of facility replacement projects.
Read the full blog to learn more about LPO financing for projects that convert or directly replace an existing factory that has high-quality jobs. To engage directly with LPO for a no-fee, no-commitment consultation to discuss your proposed project and learn about LPO’s process before formally applying, request a pre-application consultation.
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