Trump is canceling $30B in Biden-era green loans

The Trump administration is canceling $30 billion in green loans and revising another $53 billion, it said Wednesday night.

The administration said the changes or eliminations from the $83 billion in total funding come after its review of $104 billion in loan obligations issued by the Biden administration.

While some cancellations have been already announced — such as the nearly $5 billion loan that would have helped finance a power line that would have gotten more wind and solar on the grid — it’s not clear what exactly the rest of the cancellations or revisions are.

The Energy Department did not immediately respond to The Hill’s request for more information, though its website did state that it has eliminated $9.5 billion in wind and solar projects and replaced them with natural gas and nuclear energy where possible. 

The department also said it has the ability to offer up more than $289 billion in loans and that it plans to prioritize nuclear, coal, oil, gas, minerals, geothermal energy, electric grid upgrades, manufacturing and transportation. 

“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 a written statement.

The administration has repeatedly clawed back funding for green projects under the Biden administration. Last year, the Energy Department announced that it had canceled some $8 billion in funding while the Environmental Protection Agency has also sought to revoke billions.