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Call to Action for a Truly Sustainable Renewable Future
August 8, 2013 – 5:07 pm | No Comment

-Include high octane/high ethanol Regular Grade fuel in EPA Tier 3 regulations.
-Use a dedicated, self-reducing non-renewable carbon user fee to fund renewable energy R&D.
-Start an Apollo-type program to bring New Ideas to sustainable biofuel and …

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Biofuels Digest’s 5-Minute Guide to Loan Guarantees: Who Got ‘Em, What’re They Doing?

Submitted by on July 30, 2013 – 11:07 amNo Comment

by Jim Lane (Biofuels Digest)  In today’s Digest – visit our 5-Minute Guide to Loan Guarantees — INEOS Bio, Myriant, Sapphire Energy, Abengoa, Chemtex, Enerkem, Fiberight, Fulcrum, ZeaChem – Plus POET-DSM, Diamond Green Diesel, Coskata and Range Fuels

Projects open for business

INEOS Bio …

Myriant …

Sapphire Energy …

Projects under construction

Abengoa …

Projects in development

ZeaChem …

Chemtex …

Fulcrum BioEnergy …

Enerkem …

Fiberight …

Loan guarantees abandoned by applicant

POET-DSM …

Diamond Green Diesel …

Coskata …

Defaults

Range Fuels …

The Digest’s Take

Overall, loan guarantee activity has totaled $891 million to date — pretty small potatoes in the context of more than $32 billion in loan guarantees made available for clean tech projects. But not nothing, as the saying goes.

As far as track record — overall, pretty darn good. One already now repaid, three projects open, three in construction, three still in development — one failure, Range Fuels back at the very dawn of the program. The overall default rate – assuming total write-off of Range Fuels – would come in at 7.2 percent, well under the 10 percent originally envisioned by Congress in funding the loan guarantee program. While any project failure is a setback, the program was explicitly set up to advance technologies towards commercialization that could not find affordable conventional financing — to solve the “Valley of Death” problem.

Put it in the context of overall project finance default rates – according to Moody’s in a study of 3,533 project finance loans between 1983 and 2010, the overall default rate (in terms of projects, not dollars) was 7.9 percent.

But the Moody’s numbers are quite incredible in their own right — a comparative default rate compared to commercial sector loans — in fact, its suggestive that the sector ought to be far more financeable than it is perceived in some quarters to be.   READ MORE and MORE and MORE and MORE and MORE

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