12 Apr '11, 1pm

Clean Energy Loan Program at Risk in Budget Negotiations

Dozens of large-scale clean energy projects could be derailed if a measure to defund a federal loan guarantee program becomes part of a final Congressional budget deal. The loan program was established in energy legislation written by Republicans and signed into law in 2005 by President George W. Bush. So far, it has provided loan guarantees or made preliminary commitments of more than $18 billion for 20 projects, according to the Department of Energy. Another 25 projects are nearly finished with the application process and would be expected to receive guarantees, the agency said recently . A short-term spending bill passed by the Republican-controlled House in February proposed sweeping cuts for the program, however, raising the specter that those loan guarantee applications that are near completion but have not yet been finalized would be canceled. The program’s fate rem...

Full article: http://green.blogs.nytimes.com/2011/04/12/clean-energy-lo...

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