DOE Cancels, Revises Some $83 Billion in Energy Loans

The U.S. Department of Energy’s Office of Energy Dominance Financing (EDF) will restructure, revise or eliminate some $83 billion in clean energy loans made during the Biden Administration, according to a Jan. 22 notice from the agency.

The office is eliminating $9.5 billion in “government subsidized” wind and solar projects, and will instead invest in natural gas and nuclear power “uprates,” the DOE said.

The agency said it carried out an “exhaustive review” of some $104 billion in principal loan obligations made by the Biden administration. Of that figure, the DOE claims roughly $85 billion was “rushed out of the door in the final months after Election Day.”

The EDF has de-obligated, or is in the process of de-obligating, nearly $30 billion in loans, and is revising another $53 billion.

Previously called the Loan Programs Office’s Energy Infrastructure Reinvestment Program, the EDF was renamed in November as part of an agency-wide reorganization. The One Big Beautiful Bill, signed into law last summer, broadened the office’s authority.

“EDF has re-structured around a foundational mission to lower electricity prices, empower the private sector to invest in the future, help win the AI race, strengthen American industry, and restore American Energy Dominance,” the DOE said in the Jan. 22 press release.

— Reporting by Colt Shaw, cshaw@opisnet.com; Editing by Jordan Godwin, jgodwin@opisnet.com