U.S. Government Arranged Most Loans for Clean Energy in 2011

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http://www.bloomberg.com/news/2012-01-17/u-s-government-arranged-most-loans-for-clean-energy-in-2011.html

The U.S. government pushed ahead of development banks in Europe and Brazil to arrange the most financing for clean energy projects last year, distributing incentives from President Barack Obama’s administration.

The Federal Financing Bank completed 13 deals worth $10.1 billion for projects including BrightSource Energy Inc (BRSE). Ivanpah solar thermal plant, according to a study of the industry’s top 20 lenders by Bloomberg New Energy Finance.

Spending was lifted by government support such as the Treasury Department’s 1603 cash grant program that expired in December and the Production Tax Credit offering 2.2 cents a kilowatt-hour of wind through the end of this year. The programs pushed U.S. funding for clean energy past China’s for the first time since 2008 last year, the London-based researcher said.

“Before anyone in Washington celebrates too much, the U.S. figure was achieved thanks in large part to support initiatives” that are expiring, Michael Liebreich, chief executive of New Energy Finance, said in a statement. “There may be a rush to get projects completed in 2012 followed by a slump in investment in 2013.”