The Department of Energy’s (DOE’s) abrupt termination of 24 previously awarded projects—including four prominent power-related carbon capture projects— will rescind $3.7 billion in financial assistance from its Office of Clean Energy Demonstrations (OCED).
In a terse press release on May 30, the DOE cited “a thorough and individualized financial review” in its justification for canceling the awards, asserting the projects “failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment.” Nearly 70% of the projects, the agency noted, had been signed between Election Day and Jan. 20.
Over the past week, speculation has mounted about which projects were terminated. The DOE shared the names of the projects with POWER on June 3, but it did not provide project-specific justifications or documentation supporting its economic viability claims.
Read more in Power Magazine here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
