The Department of Energy announced today that it will commit $8 billion in loan guarantees for carbon capture products or other clean coal technology projects. Projects that will implement carbon capture and storage technology, or other technology that will decrease greenhouse gas emissions by over 50 percent, will receive $6 billion in backing from the Energy Department. Coal gasification projects will receive the other $2 billion in funding. This is the third round of DOE solicitations from the 2005 energy bill, which established the clean energy loan guarantee program.
To view DOE’s announcement visit: http://www.energy.gov/news/6565.htm