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The project is currently seeking a loan guarantee from the U.S. Department of Energy's (DOE) Loan Guarantee Program Office, which supports accelerated commercial use of innovative energy technologies to help sustain economic growth, yield environmental benefits, and produce a more stable and secure energy supply.
ENGADGET: NRG and SunPower partner on 250-megawatt solar plant, plan to power 100,000 California homes
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He is also responsible for the mismanagement of the Department of Energy (DOE) Loan Guarantee Program.
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Renewable-energy companies, particularly solar power product makers and developers, say the loan-guarantee program administered by the Department of Energy is crucial to allow projects currently under development to proceed.
WSJ: Proposal Aims to Gut DOE Loan Program
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The loan guarantee program at issue allows the Energy Department to help finance certain renewable energy projects, electric transmission systems and bio-fuels projects that begin construction no later than September 30, 2011.
WSJ: U.S. Weighs Funding for Renewable Energy Projects
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The loan guarantee program discussed in the memo allows the Energy Department to help finance projects such as electric transmission systems and bio-fuel initiatives that begin construction no later than September 30, 2011.
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Proponents of nuclear power say construction of new plants would likely require the extension of a federal loan guarantee program, also created by the 2005 energy act, that's set to expire in 2009.
FORBES: How Washington Cripples The Energy Industry
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Cutting the DOE program would "kill all clean energy projects with pending DOE loan guarantee applications, causing the loss of tens of thousands of jobs and many other benefits, " the Solar Energy Industries Association said in a statement.
WSJ: Proposal Aims to Gut DOE Loan Program
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"Without the federal loan guarantee program, private-sector capital earmarked for this and other clean-energy projects will stay on the sidelines, " NRG Chief Financial Officer Christian Schade said by email.
WSJ: Proposal Aims to Gut DOE Loan Program
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WASHINGTON President Obama's top advisers recommended cutting off funding for a federal loan-guarantee program meant to spur the construction of wind and solar farms and other alternative energy projects, saying taxpayer dollars might be better spent elsewhere.
WSJ: U.S. Weighs Funding for Renewable Energy Projects