The Department of Energy said Thursday that it is canceling nearly $30 billion in Biden-era clean energy loan obligations and revising another roughly $53 billion after a first-year review of a portfolio totaling $104 billion.
It's a move that signals a sharper shift under President Donald Trump toward fossil fuels and nuclear power.
In a press release, the department said the changes are being carried out by the Office of Energy Dominance Financing, which it said was previously known as the Loan Programs Office.
The department described the action as a restructuring, revision or elimination of more than $83 billion in loans and conditional commitments tied to the Biden-era portfolio.
"Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars," Energy Secretary Chris Wright said in the statement.
The department said it has "completed or is in the process of de-obligating almost $30 billion," and that another $53 billion is "in revision." A comprehensive project-by-project list of what would be canceled or revised was not provided.
One of the largest examples cited publicly is a $4.9 billion loan tied to the Grain Belt Express transmission project, which was intended to move electricity from wind and solar generation to population centers in the Midwest and East.
That loan was among the cancellations, and the administration had previously moved to terminate it.
The Energy Department also said it has eliminated about $9.5 billion in wind and solar-related loans and, where possible, replaced them with support for new natural gas plant capacity and upgrades to nuclear facilities.
Looking ahead, the department said it has more than $289 billion in available loan authority, and it said eligibility for its Energy Dominance Financing Program was expanded by Trump's Working Families Tax Cut, which the department has also referred to as the One Big Beautiful Bill Act.
It plans to prioritize nuclear energy and fossil fuels, as well as projects involving critical minerals, geothermal energy, the electric grid, manufacturing and transportation.
Reuters contributed to this story.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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