By Jonathan Silver Executive Director, U.S. Department of Energy’s Loan Programs Office Special to Biofuels Digest Since my last update six months ago, the U.S. Department of Energy’s Loan Programs Office (LPO) has been extremely busy, committing or closing 19 additional financings of clean energy projects – including one of the country’s first commercial-scale cellulosic […]
34 Cleantech CEOs launch a rearguard effort to save the DOE Loan Guarantee Program. Will it survive? Should it? Who’s at risk? What’s at stake? In Washington, 34 cleantech CEOs, are trying to make sure the DOE doesn’t drop its loan guarantee program despite threats of budget cuts from Congress. Signatories to the letter include […]
In California, Rentech announced that the U.S. DOE Loan Guarantee Program Office (LGPO) has selected Rentech’s loan guarantee application for its proposed Rialto Renewable Energy Center for due diligence review. Rentech applied in February of 2010 for a loan guarantee for the Rialto Project as an advanced bio-refinery under the Section 1705 Title XVII Loan […]
Bourne out of desperation, the biofuels industry spies financing ops in the Bond market. Smileys all round. What happened? What’s next? This month, the biofuels industry cheered as loan guarantees came through from the USDA for projects by Coskata, Enerkem and INEOS Bio in Alabama, Mississippi and Florida – all producing cellulosic ethanol. What was […]
In Texas, KiOR announced that it has received a term sheet for a loan guarantee supporting over $1 billion biofuels project from the U.S. Department of Energy’s Loan Guarantee Program. The project would convert wood biomass into drop in biofuels such as gasoline and diesel fuel. KiOR’s project under the DOE loan guarantee program will […]
U.S. Energy Secretary Steven Chu today announced the offer of a conditional commitment to Diamond Green Diesel, LLC, the proposed joint venture between Valero Energy Corporation and Darling International Inc., for a $241 million loan guarantee. The loan guarantee will support the construction of a 137-million gallon per year renewable diesel facility in Norco, Louisiana, […]
In Florida, INEOS Bio and its joint venture partner, New Planet Energy, announced a conditional commitment for a $75 million loan guarantee from the U.S. Department of Agriculture’s (USDA) 9003 Biorefinery Assistance Program. One unique aspect of the transaction is its reliance not on traditional bank finance, but on an innovative bond program developed by […]
In Washington, Digest sources continue to point toward a release of USDA loan guarantees this week – Secretary of Agriculture Tom Vilsack is pressing his team to finalize conditional offers prior to the new Congress convening on Capitol Hill. USDA loan guarantee funds were previously zeroed out in an omnibus spending bill which died right […]
In California, Fulcrum BioEnergy announced today that the U.S. Department of Energy has selected Fulcrum’s Sierra BioFuels Plant to enter the final phase of DOE’s Loan Guarantee Program. Fulcrum has received a detailed indicative term sheet from DOE and has begun the negotiation process to advance the loan towards closure and funding. The Sierra BioFuels […]
In Washington, looming deadlines to keep in mind for the US Department of Energy’s Loan Guarantee Program are: November 30, 2010 – is the last day to submit final Part I applications and the first Part II applications for DOE’s Manufacture Commercial Technology Renewable Energy Systems and Components Solicitation (2010). Applicants who apply under the […]
