The US Department of Energy has announced a $2bn loan guarantee programme for energy schemes on Native American and Alaskan Native lands. The Tribal Energy Loan Guarantee Program will offer the state's guarantee for up to 90% of energy scheme loans, including solar and storage but also fossil fuels and mining. Fees for other currently open solicitations are $150,000 for loans of less than $150 million and $400,000 for loans greater than $150 million. Tribal lands account for 5.8% of the US landmass and have about 6.5% of the nation's renewable energy potential, but lack of access to finance has held up development to date. In addition to providing funding for projects that are already in development, the program is designed to help communities develop their own plans for generating clean energy.
The US Department of Energy has announced a $2bn loan guarantee programme for energy schemes on Native American and Alaskan Native lands. The Tribal Energy Loan Guarantee Program will offer the state's guarantee for up to 90% of energy scheme loans, including solar and storage but also fossil fuels and mining. Tribal lands account for 5.8% of the US landmass and have about 6.5% of the nation's renewable energy potential, but lack of access to finance has held up development to date. In addition to providing funding for projects that are already in development, the program is designed to help communities develop their own plans for generating clean energy.