Project Sponsor Law and Legal Definition

According to 10 CFR 609.2 [Title 10 Energy; Chapter II Department of Energy; Subchapter H Assistance Regulations; Part 609 Loan Guarantees for Projects that Employ Innovative Technologies], Project Sponsor means “any person, firm, corporation, company, partnership, association, society, trust, joint venture, joint stock company or other business entity that assumes substantial responsibility for the development, financing, and structuring of a project eligible for a loan guarantee and, if not the Applicant, owns or controls, by itself and/or through individuals in common or affiliated business entities, a five percent or greater interest in the proposed Eligible Project, or the Applicant.”