All articles tagged with #loan guarantee
The Energy Department has finalized a $1.6 billion loan guarantee to upgrade nearly 5,000 miles of transmission lines across five Midwest states, primarily supporting fossil fuel energy, as part of efforts to modernize the grid and meet rising electricity demand, amidst ongoing debates over clean energy investments and policies.
The Energy Department finalized a $1.6 billion loan guarantee for American Electric Power to upgrade and rebuild 5,000 miles of transmission lines across five states, aiming to modernize the grid, expand capacity, and support economic growth, with the project benefiting from recent policy changes and emphasizing the role of government in strategic energy infrastructure.
The UK government will underwrite a £1.5bn loan guarantee to Jaguar Land Rover following a cyber-attack that disrupted its UK factories, aiming to support the supply chain and protect jobs in the automotive sector.
The Trump administration canceled a $4.9 billion federal loan guarantee for the Grain Belt Express power transmission project, which aims to carry wind-generated electricity across the Midwest, citing it as unnecessary for supporting reliable and affordable energy. Despite the project's potential to enhance grid capacity and support AI data centers, political and land use disputes, along with policy shifts favoring fossil fuels over renewables, led to the cancellation, raising concerns about the U.S.'s ability to expand its energy infrastructure to meet growing demands.
The Energy Department has canceled a $4.9 billion loan guarantee for the Grain Belt Express, a major Midwest power line project criticized by conservatives and seen as aligned with green energy initiatives, citing financial concerns and political opposition, notably from Senator Josh Hawley and Missouri officials.
The Biden administration has approved a $1.52 billion loan guarantee from the Energy Department to help Holtec International restart the Palisades nuclear plant in Michigan, which closed in 2022. This move is part of a broader effort to revive nuclear energy in the United States, with the loan conditional on regulatory approvals and other requirements. The plant's reopening is supported by Michigan Governor Gretchen Whitmer and is expected to drive regional economic impact while contributing to clean energy efforts.