Biden Inks Climate Deals

One of President Biden’s (D) signature Vlimate Initiatives is on the Clock.

The Department of Energy (DOE), is racing to close $25 billion in Pending Loans to Businesses Building Major Clean Energy Projects across the Country. The push is One of Biden’s Last chances to Cement His Climate Legacy, before Trump (R) takes Office next year, under the Promise of shredding Democratic Spending Programs.

The DSepartment’s Loan Programs Office, emerged as One of Biden’s most potentially Powerful Tools for Greening the Economy, making Billion-dollar DSeals, to Restart a Nuclear Power Plant in Michigan, Fund Lithium Mining in Nevada, and build Factories for churning out Electric Vehicle (EVs) Components in Ohio and Tennessee.

But it faces an uncertain Future under Trump, who as President backed only One Project under the Program and proposed Slashing the Office’s Budget. And Trump’s recent Pick to Lead DOE, Chris Wright, is a Fracking Executive who has Criticized the use of “large government subsidies and mandates”.

That sets up a High-Wire Act in the Closing Weeks of Biden’s Presidency, both for DOE and for Energy Companies seeking a Financial Lifeline from Washington.

Of the 29 Loans and Loan Guarantees the Administration has announced, 16 have yet to be Completed. They include $9.2 billion for an EV Battery Project in Kentucky and Tennessee, a $1.5 billion Guarantee for Sustainable Aviation Fuel Production in South Dakota, and $1 billion for EVs Charging Infrastructure Nationwide.

“There’s nothing like seeing your own coffin to get you moving faster,” said Andy Marsh, President and CEO of the Hydrogen company Plug Power, which hopes to Close a $1.7 billion Loan from DOE. At the same time, Trump has Pledged to Dismember Biden's Climate Agenda.

Plug Power produces Electrolyzers and other Components needed to make Hydrogen from Electricity, a Zero-Emissions Source of Energy that could take a Hit under Trump. The DOE Loan would provide Funding to Help the Company build up to Six “Green Hydrogen” Plants.

Marsh said He’s aiming to Lock in the Loan Guarantee “before Jan. 20th”, when Trump will be Inaugurated. “We know that it’s in our best interest to have that resolved by then,” He said.

The pending Loans, some of which were announced almost Two years ago, Preview a potential Fight under Trump. Pitting efforts to Reduce U.S. Dependence on Chinese Imports against Republicans’ Desire to Cut Spending.

The Loans stem from Biden’s wider effort to Spur a Green Building Boom to Erode China’s Clean Energy Dominance and Slash Planet-Warming Pollution. Twelve Pending Loans and Loan Guarantees worth a combined $21 billion are in Republican Congressional Districts.

The Department also has a pile of 210 Active Applications, totaling $303.5 billion, as of October. The Office recently Adjusted its estimated remaining Loan Authority to nearly $400 billion across Several Programs, leaving hundreds of billions of dollars Available for the incoming Trump Administration, should it seek to use the Office.










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