(KXNET) — The Tribal Energy Loan Guarantee Program in the Department of Energy is a partial loan guarantee program that guarantees up to $2 billion in loans to help boost economic opportunities for our tribes through energy development.
According to the Department of Energy (DOE), the loan program offered to our state’s tribes supports an “all-of-the-above” energy strategy.
Although the Biden Administration is pushing clean energy initiatives, our tribal lands can invest in any type of energy they want.
This includes fossil fuels, which include drilling, mining, and refining renewable energy, transmission infrastructure, and energy storage.
And the DOE lays out a comprehensive financing plan as well.
“Today, we have direct pay for tribes. So they don’t have to go through tax equity structures anymore. They can get direct subsidies from the federal government for these technologies,” said the Director of the Loans Program for the DOE, Jigar Shah.
According to the DOE, if the potential development is outside tribal land — but still benefits the tribe — it can be part of this program.