Nichols Martin
The Department of Energy has launched the Tribal Energy Loan Guarantee Program‘s first solicitation, which will provide up to $2 billion in loans for energy development projects of native American communities, including Alaska.
The TELGP, under the Energy Policy Act of 2005, seeks to increase commercial debt availability to support tribal energy markets, rather than overwrite existing debt, DOE said Tuesday.
The department based this financing approach on the Financial Institution Partnership Program, which supported public and private lending for efforts on energy infrastructure.
Applications for the first phase of the solicitation’s Phase I are due Sept. 19, and the succeeding deadlines will follow every two months.
The solicitation adds to the $30 billion in loans that the DOE’s Loan Programs Office has financed to support energy infrastructure projects.
