Officials increase loan authority for Energy Infrastructure Reinvestment for climate projects.
Director Jigar Shah of the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) has increased efforts to finance clean energy initiatives as President Biden’s administration winds down. Officials quadrupled available lending after the presidential election in November, and the LPO has approved projects in clean technology, including battery manufacturing and energy storage. The office is focusing on more stable loans and away from credit subsidies.
“Less credit subsidy may be required for such projects, allowing LPO to potentially finance more projects,” Director Shah said. “Accordingly, LPO is revising its reported loan guarantee authority under EIR [the Energy Infrastructure Reinvestment program] to now reflect the statutory maximum loan guarantee authority.”
As the Lord Leads, Pray with Us…
- For Director Shah as he pursues the closure of loans to clean energy projects and development.
- For the president and administration officials as they seek to achieve their climate goals.
Sources: Energy Storage News, Washington Free Beacon
