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Trump Nixes $1.8 Billion Biden-Era Loan to Arizona Utility for Clean Energy
A $1.8 billion loan guarantee to an Arizona utility to deploy clean energy are among the projects the Energy Department has canceled following a review of loans made during former President Joe Biden’s administration, according to the department.
The conditional loan guarantee to Arizona Public Service Company, a subsidiary of Pinnacle West Capital Corp., was granted by the Biden administration in early January 2025, but never finalized. The financing to the utility, the largest in Arizona, was earmarked for the deployment of renewable energy sources, electric transmission lines and the construction of a battery energy storage project tied to an existing solar site, according to the Energy Department. The utility didn’t immediately respond to a message seeking comment.
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The project was among some $30 billion in financing, made through the Energy Department’s Loan Programs Office, that was canceled following a Trump administration review of Biden-era deals.
The conditional loan guarantee to Arizona Public Service Company, a subsidiary of Pinnacle West Capital Corp., was granted by the Biden administration in early January 2025, but never finalized. The financing to the utility, the largest in Arizona, was earmarked for the deployment of renewable energy sources, electric transmission lines and the construction of a battery energy storage project tied to an existing solar site, according to the Energy Department. The utility didn’t immediately respond to a message seeking comment.
BloombergGreen
Google Backs Tesla Co-Founder’s Redwood at $6 Billion Valuation
US Gains 11,300 Ultra-Fast Chargers in Bet to Lure More EV Drivers
Madrid Shuts Some Schools, Roads, Trains on Unusual Snowfall
India Could Order More Homegrown Reactors Amid Nuclear Push
The project was among some $30 billion in financing, made through the Energy Department’s Loan Programs Office, that was canceled following a Trump administration review of Biden-era deals.
https://www.bloomberg.com/news/articles/2026-01-28/trump-cancels-1-8-billion-biden-era-loan-to-arizona-utility-for-clean-energy?srnd=homepage-americas