Senate panel adopts "green" bank for clean energy

WASHINGTON (Reuters) – A Senate committee on Wednesday adopted language that would create a special bank within the Energy Department to dole out government loans and loan guarantees for clean energy projects using advanced technology.

The Clean Energy Deployment Administration would be part of comprehensive energy legislation that the Senate Energy and Natural Resources Committee hopes to approve later this month.

The new agency would provide various forms of credit to support environmentally friendly technologies that diversify the nation’s energy supply and reduce carbon dioxide emissions.

Reuters