DOE Loan Guarantee Program

On December 4, 2009, DOE published a notice in the Federal Register at 74 FR 63544 finalizing amendments to the regulations for the loan guarantee program that was authorized by Section 1703 of Title XVII of the Energy Policy Act of 2005. Section 1703 of Title XVII authorized DOE to make loan guarantees for projects that “avoid, reduce, or sequester air pollutants or anthropogenic emissions of greenhouse gases; and employ new or significantly improved technologies as compared to commercial technologies in service in the United States at the time the guarantee is issued.”
DOE is changing the existing regulations to provide flexibility in the determination of an appropriate collateral package to secure guaranteed loan obligations, facilitate collateral sharing and related intercreditor arrangements with other project lenders, and to provide a more workable interpretation of certain statutory provisions regarding DOE's treatment of collateral, consistent with the intent and purposes of Title XVII. 
The rule is effective December 4, 2009.