Trump Administration Axes $4.9B Biden Green Energy Deal

The Department of Energy has announced the cancellation of a $4.9 billion federal loan guarantee for the Grain Belt Express, a significant green energy project supported by the Biden administration.

The Grain Belt Express was proposed as an 800-mile high-voltage direct current transmission line, intended to connect wind and solar capacity across multiple states from Kansas to the Illinois-Indiana border. Developers had labeled it the “biggest transmission line in U.S. history.”

According to reliable sources within the Department of Energy, the decision to terminate the conditional loan came after a thorough review of the project’s financials. The DOE stated that “the conditions necessary to issue the guarantee are unlikely to be met” and that federal involvement in the project is “not critical.”

This development follows earlier reports that the loan was approved by the Biden administration in November 2024. The current administration is now reviewing all similar projects approved between Election Day 2024 and Inauguration Day 2025, citing concerns about responsible stewardship of taxpayer resources.

The significance of this decision becomes clear when we consider the broader implications for energy policy. President Donald Trump’s recent executive order, “Unleashing American Energy,” outlines a new direction focusing on oil, gas, coal, nuclear, and hydropower, notably omitting wind and solar power projects.

Supporters of the project, including its primary developer, Invenergy, claim it aligns with the President’s energy dominance agenda. Critics, such as Senator Josh Hawley of Missouri, have labeled the project a “boondoggle” and welcomed its cancellation.

The evidence suggests that this decision may signal a shift in federal energy priorities. However, questions remain about the long-term impact on renewable energy development and the role of government in large-scale infrastructure projects.