Office of Energy Dominance Financing (EDF)

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Lender

On November 10, 2026, the U.S. Department of Energy closed a $480 million loan to Elkhorn Offshore, a subsidiary of Texas-based Arena Energy, to refurbish and repower 22 aging oil and gas platforms in the Southern Eugene Island area off Louisiana. It is the first loan the department's Office of Energy Dominance Financing has closed for domestic oil and gas production.

Updated 5 hours ago

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As of September 2026: Lender for the restart

A shuttered Iowa nuclear plant is getting federal money to come back online. The Department of Energy closed a loan of up to $1.9 billion on September 8 to help NextEra Energy restart the Duane Arnold Energy Center, which a 2020 derecho knocked offline.

Updated Sep 9

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As of August 2026: Lender for the AEP Texas projects

AEP Texas has closed a $3.26 billion federal loan to rebuild the state's power grid. The money funds roughly 100 projects covering 2,800 miles of transmission lines. Key corridors get double the carrying capacity, aimed at data centers and Permian Basin oil fields.

Updated Aug 24