As part of Obama’s Climate Action Plan, the US DOE has published a solicitation which makes up to US$ 8 billion in loan guarantee authorities available to support innovative advanced fossil energy projects that avoid, reduce, or sequester greenhouse gases. The guarantees will help provide critical financing to support new or significantly improved advanced fossil energy projects, such as carbon capture, that reduce emissions from carbon dioxide, methane and other greenhouse gas pollution.
Currently, the DOE’s Loan Programs Office supports a large and diverse portfolio of more than US$ 30 billion providing help for more than 30 closed and committed projects.
Comments on the solicitation
Secretary Moniz said, ‘Under the Obama Administration, the Energy Department is taking an all of the above approach to American energy to ensure we develop all our abundant energy resources responsibly and sustainably. Currently providing 80% of our energy, coal and other fossil fuels will continue to be a critical part of our energy portfolio as we move toward a low carbon future. By helping to accelerate the introduction of innovative, clean fossil energy technologies ready for deployment at commercial scale today, investments under the solicitation will help ensure we continue to have access to affordable, clean energy from all our domestic energy resources tomorrow.’
With publication of the Advanced Fossil Energy Projects solicitation, the DOE is now accepting applications through the Loan Programs Office web portal at www.apply.loanprograms.energy.gov and expects to receive initial applications by the end of February 2014.
Adapted from a press release by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/13122013/doe_advanced_fossil_energy_funding914/