The Biden administration’s green loan office is shelling out nearly $23 billion to utility companies for green energy development and other projects in its final days.
The Department of Energy’s (DOE) Loan Programs Office (LPO) announced its conditional commitment to provide a combined $22.9 billion in financing to numerous utility companies across the country to “modernize” their grid systems by adding new green energy generation, building transmission lines needed to harness renewable generation and more. The LPO is continuing its lame duck lending spree through the very end of the Biden administration, even though Republicans and the DOE’s internal watchdog have called for a freeze on LPO activity due to concerns about the office’s safeguards pertaining to conflicts of interest.
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