42 U.S. Code § 15972 - Loan to place Alaska clean coal technology facility in service
The term “clean coal technology plant” means the plant located near Healy, Alaska, constructed under Department cooperative agreement number DE–FC–22–91PC90544.
The term “cost of a direct loan” has the meaning given the term in section 661a(5)(B) of title 2.
Subject to subsection (c), the Secretary shall use amounts made available under subsection (e) to provide the cost of a direct loan to the borrower for purposes of placing the clean coal technology plant into reliable operation for the generation of electricity.
The amount of the direct loan provided under subsection (b) shall not exceed $80,000,000.
The direct loan provided under subsection (b) shall bear interest at a rate and for a term that the Secretary determines appropriate, after consultation with the Secretary of the Treasury, taking into account the needs and capacities of the borrower and the prevailing rate of interest for similar loans made by public and private lenders.
The Secretary shall retain any payments of principal and interest on the direct loan provided under subsection (b) to support energy research and development activities, to remain available until expended, subject to any other conditions in an applicable appropriations Act.
There are authorized to be appropriated such sums as are necessary to provide the cost of a direct loan under subsection (b).
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