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The Trump administration is canceling nearly $30 billion in loans from the Energy Department's green bank, following a review of transactions approved under former President Biden. The Energy Department's Loan Programs Office, now the Office of Energy Dominance Financing, plans to revise an additional $53 billion in funding.

Approximately $9.5 billion for wind and solar projects will be redirected toward natural gas and nuclear initiatives. Since the review began, over $29.9 billion in Biden-era loans have been canceled or are in the process of being scrapped, while another $53.6 billion is expected to proceed with modifications.

Some notable cancellations include a $2.92 billion loan guarantee for Sunnova Energy and a $4.9 billion guarantee for the Grain Belt Express transmission line. The administration aims to utilize the remaining $289 billion in loan authority for nuclear, geothermal, and critical minerals projects.