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On July 29, 2009, the U.S. Department of Energy issued two solicitations inviting applications for loan guarantees under Title XVII of the Energy Policy Act of 2005. For the first time, these solicitations make available federal funding to pay the credit subsidy cost of Title XVII loan guarantees. The solicitations provide an opportunity for developers of transmission and renewable energy projects to borrow funds that have the benefit of federal guarantees, with upfront credit subsidy costs being paid by DOE. The solicitations contain detailed requirements concerning eligible projects and the content of applications; the first application deadlines are in mid-September 2009. Moreover on August 6, 2009, DOE issued a notice of proposed rulemaking to amend the Title XVII regulations, which may allow additional financing structures and collateral packages for eligible projects.

Join us for a discussion on the new solicitations, their requirements, and the electric transmission and renewable generation policies they are intended to advance, as well as what project sponsors should be thinking about as they consider submitting applications to DOE.

Speakers:

Joseph T. Kelliher is Executive Vice President of Federal Regulatory Affairs for FPL Group, Inc., a leading clean energy company and the nation’s largest wind developer. From 2005 to 2009 Mr. Kelliher served as Chairman of the Federal Energy Regulatory Commission. Mr. Kelliher is recognized as one of the Nation’s leading authorities on energy policy, and as FERC Chairman worked to strengthen the interstate transmission system, improve grid reliability, and reform wholesale power and natural gas regulation.

Moderator:

Irving L. Rotter, partner at Sidley Austin LLP and head of the firm’s Project Finance and Infrastructure Practice.

Thursday, August 13, 2009
\n2:00 p.m. – 3:00 p.m. ET

RSVP by August 12, 2009, to dcevents@sidley.com or 202.736.8565. You will receive a dial-in number upon registering.

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DOE’s New Loan Guarantee Program Solicitations for Electric Transmission and Renewable Energy Projects – Opportunities and Applications