DOE Closes $529 Million Loan to Fisker Automotive
On April 23, DOE closed a $528.7 million loan for Fisker Automotive to develop and produce two lines of plug-in hybrid electric vehicles (PHEVs).
The loan will support the Karma, a full-size, 4-door luxury sports sedan expected in showrooms in late 2010, and a line of family-oriented models being developed under the company's Project NINA program. The cars will have an all-electric range of 40-50 miles on a full charge and will be able to travel up to 300 miles with the aid of their fuel-efficient gasoline engines. The loan is being provided through DOE's Advanced Technology Vehicle Manufacturing Program (ATVM).
Fisker, a southern California startup, expects to manufacture the vehicles at a recently shuttered GM factory in Wilmington, Delaware, employing 2,000 assembly workers. Part of the loan will be used to purchase and retool the former GM plant to manufacture the Project NINA line, which is expected to begin rolling off the assembly line in late 2012.
Fisker's PHEVs will be among the first to market and will accelerate the introduction of EVs in the US. Fisker estimates annual sales of up to 115,000 vehicles when full production is reached in 2015.
This is the fourth loan signed by DOE with an advanced technology vehicle manufacturer - previous loans went to Ford, Nissan, and Tesla Motors. Combining Fisker projected sales volumes with that of the Nissan Leaf and Tesla Model S EV results in over 300,000 advanced vehicles a year, all of which were partially funded with DOE loans. See the DOE press release, DOE's ATVM Web site, and the Fisker Web site.
DOE Offers $200 Million for Solar, Water Power
DOE will invest over $200 million over five years to expand and accelerate development, commercialization, and use of solar and water power technologies throughout the US. Four funding opportunity announcements (FOAs) are for projects to help industry overcome technical barriers, demonstrate new technologies, and boost clean energy jobs. See the DOE press release.
Three of the FOAs relate to solar, including $125 million over five years for manufacturing-focused research projects in solar PV technologies. Funds are available for both universities and industry. Concept papers are due June 3, and full applications are due in early August.
One of the solar FOAs will award $40 million over three years to develop a PV supply chain focused on products or processes that will make a major impact on the PV industry within 2-5 years. Examples include lower-cost coating materials, electrical components that improve system performance, processes that reduce manufacturing waste, or equipment that dramatically improves manufacturing or installation speed. Applications are due July 2.
