Insular Areas Energy Act of 2007 - Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy to make loan guarantees for target ocean thermal energy conversion systems projects.
Authorizes such guarantees for any specified eligible innovative energy projects, including ocean thermal energy conversion systems, which are located in Guam, American Samoa, the Commonwealth of the Northern Marianas Islands, the U.S. Virgin Islands, the Commonwealth of Puerto Rico, the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau, as well as any U.S. government installation worldwide (including military bases, embassies, other federally owned or leased facilities, and all territorial waters, seabed, and subsoil of submarine areas adjacent to such installations).