US Secretary of Energy Chris Wright has announced the termination of 24 awards issued by the Office of Clean Energy Demonstrations (OCED), totaling over $3.7 billion in taxpayer-funded financial assistance. The DOE found that these projects failed to advance American energy needs, were not economically viable, and would not generate a positive return on investment.
Of the cancelled awards, nearly 70% were signed between Election Day and January 20th, primarily focusing on carbon capture and sequestration, as well as decarbonization initiatives. By terminating these awards, the DOE is generating an immediate $3.6 billion in savings for the American people.
Secretary Wright stated that the Trump administration is taking a thorough approach to ensure taxpayer dollars are used effectively, strengthening national security, and advancing projects with high returns on investment. This decision follows the issuance of a Secretarial Memorandum outlining the DOE’s policy for evaluating financial assistance on a case-by-case basis.
Source: https://www.energy.gov/articles/secretary-wright-announces-termination-24-projects-generating-over-3-billion-taxpayer