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US Scraps $8.45 Billion in Energy Loans, Projects Affected

5/19/2025

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Summary

Story summary

The US Department of Energy is set to scrap seven loans and guarantees worth $8.45 billion, originally greenlit during the Biden administration. This decision impacts three active initiatives, including a New Jersey transmission project, Sunnova's solar panel program, and Monolith Nebraska's low-carbon ammonia factory, while four other projects have already been abandoned by their sponsors.

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Story summary

The US Department of Energy is set to scrap seven loans and guarantees worth $8.45 billion, originally greenlit during the Biden administration. This decision impacts three active initiatives, including a New Jersey transmission project, Sunnova's solar panel program, and Monolith Nebraska's low-carbon ammonia factory, while four other projects have already been abandoned by their sponsors.