Biden Gives $27 Billion for Clean-Energy Deals in Final Days
Joe Biden
Photographer: Leigh Vogel/UPI/Bloomberg
The Biden administration has distributed at least $27.6 billion of dollars in financing to clean-energy companies in its final days before President-elect Donald Trump takes office.
The moves — including a $15 billion loan guarantee to California utility PG&E Corp. for a host of clean-energy projects announced Friday — mark President Joe Biden’s last-ditch efforts to secure his climate legacy before Trump takes charge, with a promise to rescind unused green funds. The Biden administration also on Friday finalized a $1 billion loan for Ioneer Ltd.’s Rhyolite Ridge lithium mine in Nevada and closed a nearly $600 million loan guarantee for a Puerto Rico solar project by Convergent Energy and Power Inc.