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 loans initiated during the Biden presidency, following a review of $104 billion in loans. Key cancellations include $30 billion in obligations, with significant cuts to wind and solar projects, as the Office of Energy Dominance Financing shifts focus towards supporting natural gas and nuclear power. The new tax law has expanded the office's lending authority, positioning it as the largest energy lender globally with nearly $290 billion available for future projects.
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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.
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