"Loans to utility borrowers pose minimal risk to the taxpayer," an Energy Department official told reporters, adding that unlike the LPO's loans for individual projects, the financing to investment-grade utilities was supported by all the assets of the company.
The LPO administers more than $385 billion in low-interest loans to companies with green energy projects such as batteries, nuclear power and advanced vehicles, and this will be among the last rounds of financing under Biden before Donald Trump takes office on Jan. 20.
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