Nearly $13B in DOE loans to support advanced nuclear
The U.S. Department of Energy (DOE) has issued a draft solicitation to provide critical financing to help commercialize advanced nuclear energy technologies, representing the DOE’s commitment to overcoming the financial barriers that stand in the way of the deployment of next generation nuclear technologies that can diversify the nation’s clean energy portfolio.
Once finalized, the up to $12.6 billion in loan guarantees would support projects that are often unable to secure full commercial financing due to scale and use of innovative technology.
“For the first time in more than 30 years, new nuclear power plants are under construction in the United States,” said Energy Secretary Ernest Moniz in a statement. “This solicitation would build on that investment and help support the construction of the next generation of safe and secure nuclear energy projects.”
The Advanced Nuclear Energy Projects Solicitation, authorized by Title XVII of the Energy Policy Act of 2005, would provide loan guarantees to support construction of innovative nuclear projects that reduce, avoid, or sequester greenhouse gas emissions. While any project that meets the eligibility requirements may apply, the DOE has identified four key technology areas, including advanced nuclear reactors, small modular reactors, upgrades and uprates at existing facilities, and front-end nuclear projects.
Once the solicitation is finalized, the Department’s Loan Programs Office will have open solicitations in four areas, including the $8 billion Advanced Fossil Energy Projects Solicitation, the $4 billion Renewable Energy and Efficient Energy Projects Solicitation, and the $16 billion Advanced Technology Vehicle Manufacturing loan program.
