Several renewable energy and thermal power project developers made use of federal Paycheck Protection Program (PPP) funding earlier this year, according to data released by the US Department of the Treasury on July 6.
Sponsors large and small received loans guaranteed by the Small Business Administration, as did other companies in the power project supply chain.
The loans are designed to help businesses meet their payroll costs and will be forgiven by the government if the proceeds are used for eligible expenses and other criteria are met.
Among the best-known names to appear in the list were large utility-scale renewables developers such as Apex Clean Energy, 8minute Solar Energy and Silicon Ranch.
Many of the most prominent companies in distributed solar were also approved for the economic stimulus loans, including Soltage, Sol Systems and C2 Energy Capital.
Early-stage wind-focused development firms Swift Current Energy and Tri Global Energy were also among the companies named, while thermal power developers making use of the program included NTE Energy Services and Indeck Energy Services.
Battery storage sponsors were represented too, with Plus Power and esVolta both participating.
Besides project sponsors, trade associations ACORE and SEIA as well as technology manufacturers Longi Solar and GameChange Solar were listed on the mammoth spreadsheet.
The SBA will pay lenders fees for processing the PPP loans on a sliding scale ranging from 5% for the smallest loans to 1% for the largest.
A wide range of lenders provided PPP loans to renewable energy and power sector companies, from international firms like Citibank to regional firms and community banks like Happy State Bank, which serves the Texas Panhandle and the Fort Worth area, and which provided a PPP loan to Tri Global.