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The U.S. Dept. of Energy (DOE) has continued to announce billions of dollars of loan guarantees to energy companies in the final days of the Biden administration, including for upgrades […]
The post Plug Power Gets $ 1.7 Billion Loan Guarantee From DOE to Produce Hydrogen Fuel appeared first on POWER Magazine.
The Biden administration has finalized a $ 15 billion loan guarantee to California utility Pacific Gas & Electric (PG&E), in the biggest outlay to a single group in the history of […]
The post Biden’s DOE Finalizes $ 15 Billion Loan Guarantee to California’s PG&E appeared first on POWER Magazine.
The Department of Energy’s (DOE’s) first official loan guarantee for a new clean energy technology project since 2014 will go to the Advanced Clean Energy Storage 1 project in Utah—one of the world’s largest renewable hydrogen energy projects.
The DOE on June 8 announced it closed on the $ 504.4 million loan guarantee for the first phase of the Advanced Clean Energy Storage project. The massive undertaking by ACES Delta, a joint venture comprising Magnum Development, Mitsubishi Power, and Haddington Ventures, seeks to create a new pathway for decarbonization of the Western U.S. grid. The agency offered the project a conditional loan guarantee commitment in April, contingent on several factors, including securing permits and financing for the $ 1 billion project.
The ACES Delta project envisions producing up to 100 metric tonnes per day of hydrogen from water and renewable energy sources using a 220-MW alkaline electrolyzer bank manufactured by Norwegian firm HydrogenPro—one of the largest deployments of its type to date.…
The Department of Energy’s (DOE’s) first loan guarantee under an $ 8 billion solicitation for advanced fossil energy projects may go to a methanol production facility in Lake Charles, La., that will employ carbon capture technology for enhanced oil recovery.
The DOE said in a statement on December 21 that it offered a conditional commitment to guarantee loans of up to $ 2 billion to help build the facility. If built, the facility will be the world’s first methanol production facility to use carbon capture technology. It would also be the first facility in the U.S. to derive methanol from petroleum coke (petcoke), which is a byproduct of oil refining.
The proposed plant will produce methanol, hydrogen, and other industrial gases and chemical products using petcoke as a feedstock. It proposes to capture 77% of carbon dioxide from the petcoke gasification plant. The gas will then be compressed and transported to oilfields in Texas for enhanced oil recovery.
The DOE’s solicitation issued in December 2013 under Title XVII of the Energy Policy Act of 2005 sought applications for loan guarantees to finance U.S.…