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Getting to Know LPO: Energy Act of 2020, BIL Implementation
The LPO team continues to work every day to implement key programmatic and operational changes resulting from the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) including those focused on good governance: https://lnkd.in/gT9rKcby
As part of our "Getting to Know LPO" blog series, LPO Director Jigar Shah takes a closer look at the good governance reforms resulting from both the Energy Act of 2020 and BIL related to how LPO evaluates risk, ensures proper oversight of its programs, and promotes transparency with regards to its portfolio.
Some of LPO's implemented good governance reforms include:
Energy Act 2020 Implemented Reforms:
• Deferred collection of certain fees for Title 17 program loan applicants.
• Expanded eligibility to include innovative projects that may also employ elements of established commercial technology.
• Clarified eligibility of projects involving nuclear supply chains, carbon management, and energy storage.
• Created process to obtain written analyses of financial terms and conditions of any proposed Title 17 loan in coordination with the U.S. Department of Treasury.
Bipartisan Infrastructure Law (BIL) Implemented Reforms:
• Formalized evaluation criteria for the reasonable prospect of repayment as a condition of loan approval.
• Codified established LPO practices to ensure that political influence does not impact project selection.
• Strengthened reporting requirements on LPO project metrics, such as types of technologies supported, jobs created, and estimates of emissions avoided.
Learn more about LPO's operations, leadership, and portfolio at: Energy.gov/LPO
Getting to Know LPO: Energy Act of 2020, BIL Implementation
The LPO team continues to work every day to implement key programmatic and operational changes resulting from the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) including those focused on good governanc
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