Trump Administration Restructures Nearly $84 Billion in Clean Energy Loans from Biden Era
The Trump administration is restructuring or eliminating nearly $84 billion in clean energy projects initiated during Joe Biden's presidency. This decision follows a review of $104 billion in loans, with the majority issued post-2024 election.
The Office of Energy Dominance Financing (EDF) reports nearly $30 billion in loan obligations have been canceled, including a $4.9 billion termination for the Grain Belt Express transmission project. Additionally, $9.5 billion in loans for wind and solar projects have been eliminated, with a shift toward supporting natural gas and nuclear power plants.
The EDF is revising another $53.6 billion in loans. The 2025 tax law has granted the office new lending authorities, making EDF the largest energy lender globally with nearly $290 billion available. Future loan priorities will focus on nuclear power, coal, oil, gas, critical minerals, geothermal projects, and improvements to the power grid.
