J. James Estrada
President Obama is spending yours and your children's and their children's money on what is amounting to a sinkhole (can you say Solyndra?). The total amount of "loans" made to the solar power and "clean energy economy" is an astounding $35.9 billion between 2009 and 2011.
Speaking of Solyndra, it's still on the list. Apparently, the Department of Energy (the department Rick Perry famously wants to do away with) didn't remove the bankrupt company from the list yet. And oh, yes, BrightSource, the new outrage in crony loans is on the list too.
Read it and weep. Then vote a year from now to end this nonsense.
President Obama is spending yours and your children's and their children's money on what is amounting to a sinkhole (can you say Solyndra?). The total amount of "loans" made to the solar power and "clean energy economy" is an astounding $35.9 billion between 2009 and 2011.
Speaking of Solyndra, it's still on the list. Apparently, the Department of Energy (the department Rick Perry famously wants to do away with) didn't remove the bankrupt company from the list yet. And oh, yes, BrightSource, the new outrage in crony loans is on the list too.
Read it and weep. Then vote a year from now to end this nonsense.
The Financing Force Behind America’s Clean Energy Economy
The Department of Energy’s Loan Programs enable DOE to work with private companies and lenders to mitigate the financing risks associated with building out commercial-scale clean energy projects, thereby encouraging the broader and more rapid growth of the sector. The Loan Programs Office is one of the largest and most active project finance operations in the world and, since 2009, has supported a robust, diverse portfolio of more nearly 40 projects. Projects include the world’s largest wind farm, several of the world’s largest solar generation facilities, one of the country’s first commercial-scale cellulosic ethanol plants, and the first new nuclear power plant in the U.S. in the last three decades. Collectively, these projects plan to employ more than 60,000 Americans, create additional tens of thousands of indirect jobs, provide enough clean electricity to power three million homes, and save more than 300 million gallons of gasoline a year. Many of these projects are first-of-a-kind that, when completed, can be replicated entirely but the private sector across the U.S., creating even more jobs and increasing our nation’s ability to compete successfully in this critical field on a global basis.
Some of the projects LPO supports include:
Jobs: 64,776
The Department of Energy’s Loan Programs enable DOE to work with private companies and lenders to mitigate the financing risks associated with building out commercial-scale clean energy projects, thereby encouraging the broader and more rapid growth of the sector. The Loan Programs Office is one of the largest and most active project finance operations in the world and, since 2009, has supported a robust, diverse portfolio of more nearly 40 projects. Projects include the world’s largest wind farm, several of the world’s largest solar generation facilities, one of the country’s first commercial-scale cellulosic ethanol plants, and the first new nuclear power plant in the U.S. in the last three decades. Collectively, these projects plan to employ more than 60,000 Americans, create additional tens of thousands of indirect jobs, provide enough clean electricity to power three million homes, and save more than 300 million gallons of gasoline a year. Many of these projects are first-of-a-kind that, when completed, can be replicated entirely but the private sector across the U.S., creating even more jobs and increasing our nation’s ability to compete successfully in this critical field on a global basis.
Some of the projects LPO supports include:
- The nation’s first nuclear power plant in the last three decades. (Vogtle)
- The world’s largest wind farm. (Shepherds Flat)
- One of the nation’s first cellulosic ethanol power plants. (POET’s Project Liberty)
- The largest rooftop solar project in our nation’s history. (Project Amp)
- Several of the world’s largest photovoltaic generation facilities when completed, including the largest in the world. (Agua Caliente)
- Several of the world’s largest concentrating solar power (CSP) generation facilities that will triple the nation’s currently-installed CSP capacity.
- Solar manufacturing plants that will help reduce the cost of solar power, one by up to up to 50% per panel. (1366, Solopower)
- The nation’s first purpose-built wheelchair-accessible vehicle that will run on compressed natural gas. (VPG)
Loan Programs Office
Our Projects
Current Totals
Loans: $35.9BJobs: 64,776
Department of Energy
| Program | Technology | Loan Guarantee Amount | Jobs (permanent/ construction) | Date of agreement | Locations | Status |
|---|---|---|---|---|---|---|
| 1703 | ||||||
| AREVA | Front-end Nuclear | $2 billion | 310/1,000 | May 2010 | Idaho Falls, ID | Conditional Commitment |
| Georgia Power Company | Nuclear Generation | $8.33 billion | 800/3,500 | Feb 2010 | Waynesboro, GA | Conditional Commitment |
| Red River Environmental Products, LLC | Energy Efficiency | $245 million | 70/500 | Dec 2009 | Coushatta, LA | Conditional Commitment |
| SAGE Electrochromics, Inc. | Energy Efficiency | $72 million | 160/210 | Mar 2010 | Faribault, MN | Conditional Commitment |
| 1705 | ||||||
| 1366 Technologies, Inc. | Solar Manufacturing | $150 million | 70/50 | Sept 2011 | Lexington, MA | Closed |
| Abengoa Bioenergy Biomass of Kansas LLC | Biofuel | $132.4 million | 65/300 | Aug 2011 | Hugoton, KS | Closed |
| Abengoa Solar, Inc. (Mojave Solar) | Solar Generation | $1.2 billion | 70/830 | Sept 2011 | San Bernardino County, CA | Closed |
| Abengoa Solar, Inc. (Solana) | Solar Generation | $1.446 billion | 60/1,700 | Dec 2010 | Gila Bend, AZ | Closed |
| Abound Solar | Solar Manufacturing | $400 million | 1,200/400 | Dec 2010 | Longmont, CO and Tipton, IN | Closed |
| AES Corporation | Battery Storage | $17.1 million | 5/30 | Aug 2010 | Johnson City, NY | Closed |
| Beacon Power Corporation | Energy Storage | $43 million | 14/20 | Aug 2010 | Stephentown, NY | Closed |
| BrightSource Energy, Inc. | Solar Generation | $1.6 billion | 86/1,000 | Apr 2011 | Baker, CA | Closed |
| Caithness Shepherds Flat | Wind Generation | partial guarantee of $1.3 billion | 35/400 | Oct 2010 | Gilliam and Morrow Counties, OR | Closed |
| Cogentrix of Alamosa, LLC. | Solar Generation | $90.6 million | 10/75 | Sept 2011 | Alamosa, CO | Closed |
| Exelon (Antelope Valley Solar Ranch) | Solar Generation | $646 million | 20/350 | Sept 2011 | Lancanster, CA | Closed |
| Granite Reliable | Wind Generation | partial guarantee of $168.9 million | 6/198 | Sept 2011 | Coos, NH | Closed |
| Kahuku Wind Power, LLC. | Wind Generation | $117 million | 10/200 | July 2010 | Kahuku Oahu, HI | Closed |
| LS Power Associates (ON Line – formerly known as SWIP-S) | Transmission | $343 million | 15/400 | Feb 2011 | Ely to Las Vegas, NV | Closed |
| Mesquite Solar 1, LLC (Sempra Mesquite) | Solar Generation | $337 million | 7/300 | Sept 2011 | Maricopa County, AZ | Closed |
| Nevada Geothermal Power Company, Inc. | Geothermal | partial guarantee of $98.5 million | 14/200 | Sept 2010 | Humbolt County, NV | Closed |
| NextEra Energy Resources, LLC (Desert Sunlight) | Solar Generation | partial guarantee of $1.46 billion | 15/550 | Sept 2011 | Riverside County, CA | Closed |
| NextEra Energy Resources, LLC (Genesis Solar) | Solar Generation | partial guarantee of $852 million | 47/800 | Aug 2011 | Riverside County, CA | Closed |
| NRG Energy (California Valley Solar Ranch) | Solar Generation | $1.237 billion | 15/350 | Sept 2011 | San Luis Obispo, CA | Closed |
| NRG Solar, LLC (Agua Caliente) | Solar Generation | $967 million | 10/400 | Aug 2011 | Yuma County, AZ | Closed |
| Ormat Nevada, Inc. | Geothermal | partial guarantee of $350 million | 64/332 | Sept 2011 | Jersey Valley, McGinness Hills, and Tuscarora, NV | Closed |
| POET, LLC. | Biofuel | $105 million | 40/200 | Sept 2011 | Emmetsburg, IA | Closed |
| Prologis (Project Amp) | Solar Generation | partial guarantee of $1.4 billion | 42/Over 1,000 | Sept 2011 | 28 States | Closed |
| Record Hill Wind | Wind Generation | $102 million | 8/200 | Aug 2011 | Roxbury, ME | Closed |
| SolarReserve, LLC (Crescent Dunes) | Solar Generation | $737 million | 45/600 | Sept 2011 | Nye County, NV | Closed |
| SoloPower | Solar Manufacturing | $197 million | 450/270 | Aug 2011 | Wilsonville, OR | Closed |
| Solyndra Inc. | Solar Manufacturing | $535 million | N/A/3,000 | Sep 2009 | Fremont, CA | Closed |
| US Geothermal, Inc. | Geothermal | $97 million | 10/150 | Feb 2011 | Malheur County, OR | Closed |
| Program | Loan Amount | Jobs (created/ saved) | Date of agreement | Number of Projects | Status |
|---|---|---|---|---|---|
| ATVM | |||||
| Fisker Automotive | $529 million | 2,000 | Apr 2010 | 2 | Closed |
| Ford Motor Company | $5.907 billion | 33,000 | Sep 2009 | 13 | Closed |
| Nissan North America, Inc. | $1.448 billion | 1,300 | Jan 2010 | 2 | Closed |
| Severstal Dearborn, LLC | $730 million | 260/2,500 | June 2011 | Conditional Commitment | |
| Tesla Motors | $465 million | 1,500 | Jan 2010 | 2 | Closed |
| The Vehicle Production Group LLC | $50 million | 900 | Mar 2011 | 1 | Closed |
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