DOE breaks new ground with wind farm financing

US DOE loan guarantee programme pushes green frontiers

Energy Risk Deals of the Year 2011

On December 16, 2010, the US Department of Energy (DOE) issued a partial loan guarantee for $1.3 billion to an 845 megawatt wind farm in Oregon called Caithness Shepherds Flat, the world's largest wind project to date. The guarantee was provided under the Financial Institution Partnership Program (FIPP), a DOE initiative supported by the 2009 American Recovery and Reinvestment Act. FIPP was designed to expand aggregate credit capacity for US renewable energy projects and expedite the loa