DOE to OK stimulus energy projects by early summer

WASHINGTON (Reuters) – Energy Secretary Steven Chu said Thursday he hopes the department can begin approving loan guarantees authorized by the stimulus for renewable energy projects by early summer.

“We need to start this work in a matter of months, not years — while insisting on the highest standard of accountability,” Chu told reporters at Platts Energy Podium in Washington D.C.

The stimulus package signed into law by President Barack Obama earlier this week provides $6 billion in loan guarantees for clean energy and electricity transmission projects.

Reuters