NORTH DAKOTA (KXNET) — Green energy opportunities continue to grow in our state each day. But if you want to start a clean energy company, obtaining funding may be difficult.
For Friday’s agriculture & energy segment, we took a look at the Department of Energy’s loan program promising to help fund these initiatives.
While significant capital is available for green technologies, projects can still lack access to adequate debt capital.
The Department of Energy’s Loan Program’s office fills this gap.
Private lenders typically wait for a green energy business to reach full market acceptance. But the Department of Energy says they can give you the loan right from the start.
“Over the last 10 years, we’ve put out over $32 billion in assistance to American innovators and entrepreneurs,” said the Director of LOP for the Department of Energy, Jigar Shah.
In their budget, the D-O-E set aside $ 5 billion for potential losses. But so far, they’ve only realized about a billion in losses. A good sign for the department’s investment portfolio.
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