By Timothy Gardner
WASHINGTON (Reuters) – The head of the U.S. government’s energy loans office that has provided financing to projects from nuclear power to a sustainable aviation fuel plant supported by one of President Donald Trump’s fellow Republicans will depart the agency this week, the U.S.
Department of Energy said on Tuesday.
John Sneed, who headed the Loan Programs Office, or LPO, in the Trump’s first administration, was re-appointed on January 20 to head it for 30 days to work on the transition to new administration.
His appointment was extended by about another month through March 21.
Sneed said in a release he will return home to Texas, and his family, without giving more detail.
In the first Trump administration, Sneed was also a chief of staff to then Energy Secretary Rick Perry, a former Texas governor of Texas.
The LPO’s capacity to offer low-cost loans and loan guarantees to emerging energy technologies was vastly expanded to hundreds of billions of dollars under the administration of former President Joe Biden, a Democrat.
Technologies, such as advanced vehicles, batteries, and solar power arrays, that struggle to get financing from private banks, were among the beneficiaries, during Biden’s presidency.
Trump only used the LPO to finance nuclear power in his first term and it has been uncertain how he will use the agency in his second administration.
So far this term, Trump’s LPO has provided part of a loan guarantee for Holtec’s Palisades nuclear plant in Michigan, which is aiming to be the first commercial reactor resurrected after a complete shutdown.
Last month, his LPO also approved disbursement of a $1.67 billion loan guarantee finalized days before Trump took office for a Calumet sustainable aviation fuel refinery in Montana, after pressure from Senator Steve Daines, a Republican.
DOE said it will announce the incoming LPO director in weeks.
(Reporting by Timothy Gardner; Editing by Marguerita Choy)
