The US Department of Energy (DOE) has announced the termination of the Loan Programs Office (LPO) conditional commitment to Invenergy’s 5 GW Grain Belt Express HVDC transmission line. After a thorough review of the project’s financials, the DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting the project.
The conditional commitment consisted of a loan guarantee of up to US$4.9bn issued in November 2024 for the development of the first phase of the project (2.5 GW). The US$11bn transmission line plans to connect the US states of Kansas and Illinois, linking four US grid regions to deliver grid reliability to 29 US states and the DC area.
The US DOE is conducting a review of every applicant and borrower – including nearly US$100bn in closed loans and conditional commitments made by the LPO during the previous US administration.
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