United States

United States

US government extends loan guarantee deadline

US: The Department of Energy has extended the initial application deadline for its loan guarantee program by six weeks.

Energy secretary Steven Chu says the extension will help strengthen the economy
Energy secretary Steven Chu says the extension will help strengthen the economy

The deadline for Part I applications to the July 2009 loan guarantee solicitation will be extended to October 5, 2010.

Few developers have applied for the portion of the loan guarantee program covering commercial proven renewable technologies, due to complex rules and the resurgence of debt markets. However, loan guarantees for transmission projects have been oversubscribed.

Energy secretary Steven Chu said: "By extending the time applicants can file, we will be able to support additional projects that diversify the country's clean energy mix and strengthen our economy." 

The deadline for part II applications remains December 31, 2010.

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