DOE terminates $3.7B in grants for CCS and decarbonization initiatives

In Washington, last week U.S. Secretary of Energy Chris Wright 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. DOE found that these projects failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars. 

Of the 24 awards cancelled, nearly 70% (16 of the 24 projects) were signed between Election Day and January 20th. The projects primarily include funding for carbon capture and sequestration (CCS) and decarbonization initiatives.