What due diligence standard is applicable to Lender-Applicants in transactions proposed under FIPP Solicitation No. DE-FOA-0000166?
The FIPP is a partnership program between DOE and qualifying financial institutions to support commercial energy-related projects under Section 1705 of Title XVII. As indicated in FIPP Solicitation No. DE-FOA-0000166, the Lender-Applicant will have the lead role in developing the overall financial structure of the proposed project and the specific terms of the proposed financing in the usual and customary manner of a lead lender or underwriter.Accordingly, DOE expects and will require the Lender-Applicant to perform due diligence on the proposed transaction in a manner consistent with the scope and depth of diligence that the Lender-Applicant would customarily perform in accordance with its own standard internal policies and procedures when acting as a lead arranger or underwriter of comparable transactions that are not guaranteed (in whole or in part) by any governmental agency or instrumentality (the “Due Diligence Standard”).DOE recognizes that due diligence on a proposed project wi
