The US Energy Department is providing $4 billion (£2.3bn) in loans for projects that can avoid or reduce greenhouse gas emissions.

It has chosen five key technology areas of interest – advanced grid integration and storage, biofuels, waste-to-energy, enhancement of existing facilities including small hydro and efficiency improvements.

The Renewable Energy and Efficient Energy Projects Loan Guarantee Solicitation is intended to support technologies that can be replicated and are market-ready.

US Energy Secretary Ernest Moniz said: “Through previous loan guarantees and other investments, the Department is already helping launch or jumpstart entire industries in the US, from utility-scale wind and solar to nuclear and lower carbon fossil energy. Today’s announcement will help build on and accelerate that success.”