The Loan Programs Office has terminated its conditional commitment for the Grain Belt Express Phase 1 project.
The U.S. Department of Energy announced last month that the Loan Program Office (LPO) ended the termination of the conditional commitment for the Grain Belt Express Phase 1 project. The proposed taxpayer-funded loan was intended for the high-voltage direct current (HVDC) transmission line, which would have connected wind and solar capacity across Kansas and Missouri. The conditional commitment was authorized late in President Joe Biden’s term.
The Energy Department stated, “After a thorough review of the project’s financials, DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting this project. To ensure more responsible stewardship of taxpayer resources, DOE has terminated its conditional commitment.“
The department explained that this decision was made as officials “review of every applicant and borrower – including the nearly $100 billion in closed loans and conditional commitments LPO made between Election Day 2024 to Inauguration Day 2025 – to ensure every single taxpayer dollar is being used to advance the best interest of the American people.“
As the Lord Leads, Pray with Us…
- For Secretary Wright to be led by the Lord as he heads the Energy Department.
- For wisdom for U.S. energy officials as they review applicants and borrowers who have requested federal loans for energy production.
Sources: Department of Energy
