The $750m loan guarantee solicitation comes in concert with a new Financial Institution Partnership Program (FIPP) “designed to expedite DOE’s loan guarantee underwriting process and leverage private sector expertise and capital for the efficient and prudent funding of eligible projects,” according to a DOE statement.
Private-sector lenders seeking to partner with DOE on the Loan Guarantee Program had been effectively shut out by rules requiring the government to have first priority to all assets offered as collateral for the loans it secures, even if a project is financed in part by parties separate from the program.
