Trump Nixes $1.8 Billion Biden-Era Loan to Arizona Utility

A $1.8 billion loan guarantee to an Arizona utility to deploy clean energy are among the projects the Energy Department has canceled following a review of loans made during former President Joe Biden’s administration, according to the department.

The conditional loan guarantee to Arizona Public Service Company, a subsidiary of Pinnacle West Capital Corp., was granted by the Biden administration in early January 2025, but never finalized. The financing to the utility, the largest in Arizona, was earmarked for the deployment of renewable energy sources, electric transmission lines and the construction of a battery energy storage project tied ...