The U.S. Department of Energy (DOE) and LPO have made great strides in helping to implement President Biden’s Investing in America agenda by strengthening domestic critical materials supply chains and providing financing to key projects across the sector, including conditional commitments to mineral processing and battery materials recycling projects.
Building on critical material and EV supply chain projects announced to date, LPO is clarifying that it may also fund “production” or mining and extraction activities as eligible expenses under LPO’s Title 17 Clean Energy Financing Program, which provides financing opportunities for innovative energy and supply chain projects. Read the full blog for more details: https://lnkd.in/gFeWMY_k
It's important to note that while LPO is clarifying that these project costs are eligible, projects must still undergo a rigorous due diligence process that includes an environmental review pursuant to the National Environmental Policy Act (NEPA). The environment, respect for affected communities, and our federal Indian trust responsibilities must be central in the process as we seek to strengthen our economy and energy security. LPO will prioritize financing for critical minerals mining projects that significantly reduce emissions, earn the support of affected Tribes and communities, and meet other program requirements. In addition, DOE will continue to work with interagency partners to ensure potential projects adhere to LPO’s commitment to high standards and remain consistent with the Biden-Harris Administration goals.
LEARN MORE:
• LPO’s Title 17 Clean Energy Financing Program: https://lnkd.in/gN2jDVbw
• LPO's Sector Spotlight on Critical Materials: https://lnkd.in/gBXfSHbr
• LPO's Tech Talk on Critical Materials: https://lnkd.in/gYcjwumA
• President Biden's "Investing in America" agenda: https://lnkd.in/gCFiWyzx
Wed, May 1