(a) In general

Notwithstanding section 16513 of this title, the Secretary may make guarantees, including refinancing, under this section only for projects that—

(1) retool, repower, repurpose, or replace energy infrastructure that has ceased operations; or

(2) enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or anthropogenic emissions of greenhouse gases.

(b) Inclusion

A project under subsection (a) may include the remediation of environmental damage associated with energy infrastructure.

(c) Requirement

A project under subsection (a)(1) that involves electricity generation through the use of fossil fuels shall be required to have controls or technologies to avoid, reduce, utilize, or sequester air pollutants and anthropogenic emissions of greenhouse gases.

(d) Application

To apply for a guarantee under this section, an applicant shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, including—

(1) a detailed plan describing the proposed project;

(2) an analysis of how the proposed project will engage with and affect associated communities; and

(3) in the case of an applicant that is an electric utility, an assurance that the electric utility shall pass on any financial benefit from the guarantee made under this section to the customers of, or associated communities served by, the electric utility.

(e) Term

Notwithstanding section 16512(f) of this title, the term of an obligation shall require full repayment over a period not to exceed 30 years.

(f) Definition of energy infrastructure

In this section, the term “energy infrastructure” means a facility, and associated equipment, used for—

(1) the generation or transmission of electric energy; or

(2) the production, processing, and delivery of fossil fuels, fuels derived from petroleum, or petrochemical feedstocks.