Tribal Energy Loan Guarantee Program
| Type | Program |
|---|---|
| Sponsor Organization | Office of Indian Energy Policy and Programs |
| Creation Legislation | Energy Policy Act of 1992 |
| Website | Website |
| Purpose | To support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible.[1] |
| Program Start | 2018 |
| Initial Funding | $2 billion in loan guarantees |
| Duration | Indefinite |
| Historic | Yes |
Tribal Energy Loan Guarantee Program (TELGP) is designed to support economic opportunities for Native American and Alaska Native communities through energy development projects by providing loan guarantees. It enables tribes to access capital for energy projects that might otherwise be financially unfeasible, promoting sustainable and economically beneficial energy initiatives.[2]
Goals
- Increase the availability of commercial debt financing in tribal energy markets.[3]
- Support a broad range of energy-related projects for tribes, including renewable energy and energy efficiency.
- Catalyze private sector investment in tribal energy projects.
Organization
The program is managed by the Office of Indian Energy Policy and Programs within the U.S. Department of Energy, in collaboration with the Loan Programs Office. The leadership role for this program is held by the Director of the Office of Indian Energy Policy and Programs.
Partners
History
The Tribal Energy Loan Guarantee Program was authorized under the Energy Policy Act of 1992, but it was not until 2018 that it received its first funding through the Consolidated Appropriations Act.[4] Initially, the program faced challenges with uptake due to high costs and lack of clarity in application processes. Significant changes were made in 2022 following feedback from tribes, which included fee elimination and clearer eligibility criteria.[5] The program's first loan guarantee was announced in March 2024 for the Viejas Microgrid Project.[6]
Funding
The program was initially authorized to provide up to $2 billion in loan guarantees. The Inflation Reduction Act in 2022 increased this to $20 billion, expanding the program's reach and capabilities. Funding for the guarantees does not have an end point, as it is structured to provide ongoing support for tribal energy projects.
Implementation
The program operates by offering partial loan guarantees to eligible lenders for tribal energy projects. Tribes apply through an eligible lender, who then seeks the guarantee from DOE. The process includes a two-phase review for eligibility and repayment prospects, followed by due diligence and conditional commitment stages. The program does not have a defined end date but continues to support new and existing energy initiatives.
Related
External links
- https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program
- wikipedia:Tribal Energy Loan Guarantee Program
Social media
- No specific social media accounts for TELGP; follow the Department of Energy for updates.
References
- ↑ "Tribal Energy Loan Guarantee Program". https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program. Retrieved January 30, 2025.
- ↑ "Tribal Energy Loan Guarantee Program". https://www.energy.gov/ie/loan-programs-office/tribal-energy-loan-guarantee-program. Retrieved January 30, 2025.
- ↑ "DOE tweaks Tribal Energy Loan Guarantee Program based on feedback from tribes". Tribal Business News. June 5, 2022. https://tribalbusinessnews.com/sections/energy/doe-tweaks-tribal-energy-loan-guarantee-program-based-on-feedback-from-tribes/. Retrieved January 30, 2025.
- ↑ "Department of Energy Issues $2 Billion Tribal Energy Loan Guarantee Program Solicitation". https://www.energy.gov/articles/department-energy-issues-2-billion-tribal-energy-loan-guarantee-program-solicitation. Retrieved January 30, 2025.
- ↑ "DOE tweaks Tribal Energy Loan Guarantee Program based on feedback from tribes". Tribal Business News. June 5, 2022. https://tribalbusinessnews.com/sections/energy/doe-tweaks-tribal-energy-loan-guarantee-program-based-on-feedback-from-tribes/. Retrieved January 30, 2025.
- ↑ "Tribal energy program awakens with $72.8M loan deal". Tribal Business News. March 12, 2024. https://tribalbusinessnews.com/sections/energy/tribal-energy-program-awakens-with-72-8m-loan-deal/. Retrieved January 30, 2025.