DOE issues final $12.5 billion nuclear energy loan guarantee solicitation
Today, the Department of Energy issued the Advanced Nuclear Energy Projects loan guarantee solicitation, which provides as much as $12.5 billion to support nuclear energy projects
Today, the Department of Energy issued the Advanced Nuclear Energy Projects loan guarantee solicitation, which provides as much as $12.5 billion to support nuclear energy projects.
With the issuance of this solicitation today, the DOE’s Loan Programs Office now has open solicitations in four areas, also including the $8 billion Advanced Fossil Energy Projects Solicitation, the $4 billion Renewable Energy and Efficient Energy Projects Solicitation, and the $16 billion Advanced Technology Vehicle Manufacturing loan program.
“With $40 billion of loan guarantee authority available to advance our all-of-the-above energy strategy, the Department’s Loan Programs Office has an opportunity to replicate its past successes, supporting innovative clean energy technologies that bring the U.S. closer to a low-carbon future,” said Secretary Ernest Moniz. “This solicitation will help the U.S. build the next generation of safe and secure nuclear energy projects by providing the critical financing needed for innovations that have not been widely deployed at commercial scale in this country.”
Authorized by Title XVII of the Energy Policy Act of 2005, the Advanced Nuclear Energy Projects Solicitation would provide loan guarantees to support the construction of innovative nuclear energy and front-end nuclear projects in the U.S. that reduce, avoid, or sequester greenhouse gas emissions. While any project that meets the eligibility requirements may apply, the DOE has identified four key technology areas of interest in the solicitation: advanced nuclear reactors, small modular reactors, uprates and upgrades at existing facilities, and front-end nuclear projects.
To date, LPO has supported a diverse portfolio of loans, loan guarantees, and commitments, supporting more than 30 projects nationwide. The projects that LPO has supported include the first nuclear power plant to begin construction in the U.S. in the last three decades, one of the world’s largest wind farms, several of the world’s largest solar generation and thermal energy storage systems, and more than a dozen new or retooled auto manufacturing plants across the country.