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Last updated on April 19, 2014 at 9:20 EDT

Department of Energy Loan Guarantee Program Management Contract Awarded

August 28, 2009

WASHINGTON, Aug. 28 /PRNewswire/ — USA Energy Advisors, LLC (USAEA) was awarded a five year program management contract on July 1, 2009 to administer the U.S. Department of Energy’s federal process for awarding loan guarantees under Title XVII of the Energy Policy Act of 2005 as amended by the American Recovery and Reinvestment Act of 2009. A principal purpose of the program is to encourage early commercial use of new or significantly improved technologies in energy projects, as compared to commercial technologies available in the United States at the time the guarantee is issued.

USAEA is developing and will operate an enterprise system to manage the flow of applications from delegated financial lenders, and other Designated Lenders such as Public and Non-Profit Development Finance Organizations, and compile information required under the federal statutes for U.S. Department of Energy, Office of Management and Budget, and the U.S. Department of the Treasury. The contract is designed to ensure transparency, promote this source of financing to eligible borrowers, publicize program information useful to the capital markets, and assess applicant compliance with federal requirements such as the National Environmental Policy Act.

For more information about the DOE Loan Guarantee Program, please visit http://www.lgprogram.energy.gov/index.html

USA Energy Advisors, with offices in Washington D.C. and Columbus, Ohio, is one of the nation’s strongest partnerships of energy technology, financial, information technology and management experts providing investment and commercialization services to government, investors and the advanced energy industry. Our mission is to advance alternative energy investment, help to facilitate job creation, and realize appropriate returns for our investors. More details about USA Energy Advisors can be found at www.usaenergyadvisors.com or call at (614) 324-5949

SOURCE USA Energy Advisors, LLC


Source: newswire