U.S. Transmission Growth Gets Federal Boost as Kickoffs Loom
Attachment: US T&D 4Q23
August 31, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. transmission and distribution (T&D) projects are getting renewed attention for federal and state lawmakers, as they play a critical role in the ongoing energy transition and require consistent upkeep to resist extreme weather conditions. With a generous influx of funding recently announced by the Biden administration, T&D developers are proposing solutions for some of the most pressing questions in these areas. Industrial Info is tracking more than $6.3 billion worth of active and planned T&D projects across the U.S. that are set to kick off in the fourth quarter, including about $3.9 billion attributed to projects that have a medium-to-high probability (70-99%) of moving forward as planned.
Earlier this week, the U.S. Department of Energy (DOE) announced a funding opportunity of up to $300 million in grants for states, tribes and local governments to accelerate and strengthen electric transmission siting and permitting processes, according to a DOE press release. It is the first tranche available of the $760 million Transmission Siting and Economic Development (TSED) grant program, which was established in the Inflation Reduction Act to overcome state and local challenges to expanding T&D capacity.
Other companies featured: Xcel Energy Incorporated (NASDAQ:XEL), Arizona Public Service Company, Pinnacle West Capital Corporation (NYSE:PNW), ArcLight Capital Holdings LLC and Terra-Gen LLC.
