DOE Rolls Out $2B Loan Guarantee Program for Renewable Energy on Tribal Lands
In Utility Dive's Insight analysis, Public Policy & Regulation attorney Taite McDonald shared her thoughts on the new Tribal Energy Loan Guarantee Program, which will be carried out by the Department of Energy (DOE) for energy projects on Native American and Alaskan Native lands.
Tribes have asked about developing renewable energy projects throughout the years, according to Ms. McDonald. "Finding affordable financing has always been the big question and the obstacle. This program will unlock that obstacle."
Under the program, which was announced on July 17, 2018, the DOE can guarantee up to 90 percent of the unpaid principal and interest of a loan made to a federally recognized Indian tribe for energy development. The program requires the tribal borrower to invest equity in the project and that all project debt is provided by non-federal lenders.