Energy Secretary Chris Wright announced plans Monday to further transition the Department of Energy’s major loan-granting office away from its Biden-era focus on renewable power sources and toward boosting nuclear energy.
Wright said that the largest portion of funding from the Loan Programs Office, which was often referred to as former President Joe Biden’s “green bank,” would now be dedicated to nuclear energy.
“The biggest use of those dollars by far — the biggest use of those dollars will be for nuclear power plants, to get those first plants built,” Wright said at the American Nuclear Society’s winter conference in Washington, D.C.
The LPO, which was established in 2005, saw its lending authority balloon under the 2022 Inflation Reduction Act to nearly $412 billion.
Under Biden,
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