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DOE closes loan guarantee for Montana Renewables’ biofuels expansion

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The Department of Energy’s (DOE) Loan Programs Office (LPO) has closed a $1.67 billion loan guarantee to Montana Renewables, LLC (MRL), including $1.44 billion in principal and $233 million in capitalized interest.  The loan will support the expansion of MRL’s renewable fuels facility in Montana, which produces sustainable aviation fuel (SAF), renewable diesel, and renewable naphtha from vegetable oils, fats, and greases. The facility, operational since late 2022, currently produces 140 million gallons of biofuels…

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Hanwha Qcells secures $1.45bn loan guarantee for US solar manufacturing facility

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Hanwha Qcells Georgia has secured a $1.45 billion loan guarantee from the US Department of Energy’s Loan Programs Office (LPO) to fund the development of a solar supply chain facility in Cartersville, Georgia.  This facility will become the largest ingot and wafer production plant in the US and the first fully integrated silicon-based solar manufacturing plant in over a decade. The plant will produce 3.3GW of solar panels annually, powering half a million American homes…

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Gevo secures DOE loan for Net-Zero aviation fuel plant in South Dakota

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Gevo has obtained a conditional $1.46 billion loan guarantee from the US Department of Energy’s (DOE) Loan Programs Office for its Net-Zero 1 (NZ1) project in Lake Preston, South Dakota.  Including capitalised interest, the loan facility provides a borrowing capacity of $1.63 billion. The NZ1 plant will use 100% US-sourced feedstocks to produce approximately 60 million gallons of sustainable aviation fuel (SAF), 1.3 billion pounds of protein and animal feed, and 30 million pounds of…