DOE Closes $1.4 Billion Loan to Nissan
DOE closed its $1.4 billion loan with Nissan North America to build an advanced battery manufacturing facility in Smyrna, Tennessee, and to retool the automaker's existing Smyrna factory so it can build electric automobiles (EVs).
Nissan plans to use the loan to produce its EV, the LEAF. Nissan plans to ramp up production capacity to build 150,000 vehicles and 200,000 battery packs annually. The projects are expected to create up to 1,300 U.S. jobs and to conserve up to 65.4 million gallons of gasoline per year.
The Nissan announcement marks the third loan agreement signed by DOE with an advanced technology vehicle manufacturer, following a $5.9 billion agreement with Ford in September 2009 and a $465 million loan agreement with Tesla Motors on January 21. DOE has also signed a conditional commitment with Fisker Automotive to build plug-in hybrids by reopening a shuttered auto plant in Wilmington, Delaware. Tenneco is the first advanced technology component manufacturer to obtain a conditional commitment from DOE in October of last year.
Congress appropriated $7.5 billion to DOE to support up to $25 billion in loans to companies using U.S. factories to make cars and components that increase fuel economy at least 25% above 2005 fuel economy levels. DOE plans to make additional loans over the next several months to large and small auto manufacturers and parts suppliers up and down the production chain. See the DOE press release and the LEAF page on the Nissan Web site.
Under the Copenhagen Accord, 55 Countries Agree to Cut GHG Emissions
The Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) announced on February 1 that it has received national pledges from 55 countries to limit and reduce their GHG emissions by 2020.
The Copenhagen Accord, an agreement reached at the U.N. climate change conference, called for countries to submit their emissions targets by the end of January. The 55 countries represent 78% of global emissions from energy use. Among industrialized countries, the commitments come from Australia, Canada, Croatia, the European Union and its member states, Japan, Kazakhstan, New Zealand, Norway, the Russian Federation, and the United States. Commitments also came from 23 developing countries, including such major emitters as Brazil, China, India, the Republic of Korea, and South Africa.
However, it's worth noting that many of the commitments, particularly those of the developed countries, hinge on similar commitments being made by other countries. They also use varying base years for comparison.
In the case of the US, the commitment is to reduce GHG emissions "in the range of 17%" below 2005 levels, "in conformity with anticipated U.S. energy and climate legislation, recognizing that the final target will be reported to the Secretariat in light of enacted legislation."
The next round of formal climate negotiations is scheduled for Bonn, Germany, at the end of May, although several countries have indicated their wish to see a quick return to negotiations with more meetings than the scheduled sessions. See the UNFCCC press release (PDF 68 KB) and the pledges from industrialized countries and developing countries.
++++
EREE Network News is a weekly publication of the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE).
