The world's largest energy lender has a new head: Here's how it could shape U.S. policy
CNBC • • business
Key Points:
- Gregory Beard, former Apollo executive, was appointed director of the U.S. Department of Energy's Office of Energy Dominance Financing (EDF) in January 2026, aiming to accelerate capital deployment in energy projects aligned with the Trump administration's priorities.
- Beard led a comprehensive review of over 80% of the Biden-era loan portfolio, canceling or restructuring approximately $83.6 billion in loans to focus on affordability, reliability, and alignment with the current administration's energy goals.
- The EDF, the world's largest energy lender with $289 billion in loan authority, has shifted its focus from a green energy emphasis to six priority areas including nuclear, fossil fuels, critical minerals, geothermal, grid infrastructure, and manufacturing.
- EDF plans to increase
