Date: 12/09/2024
Type: Implementation of IRA
On December 9, 2024, DOE announced that it has made a conditional commitment to providing a loan guarantee of up to $305 million to Nostromo Energy for Project IceBrick. Project IceBrick is a virtual power plant with up to 193 cold thermal energy storage installations in commercial buildings in California. This would be the third virtual power plant project that DOE’s loan programs office has financed.
The loan guarantee is provided by IRA section 50141, which authorized DOE to make loan guarantees to eligible energy efficient projects under section 1703 of the Energy Policy Act of 2005.