U.S. to Fortify T&D Grid with $3.46 Billion in Federal Grants

U.S. to Fortify T&D Grid with $3.46 Billion in Federal Grants

October 20, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Department of Energy (DOE) on Wednesday announced $3.46 billion worth of grants from the 2021 Bipartisan Infrastructure Law, to be distributed across 44 U.S. states to strengthen local power grids and improve reliability. The Biden administration says these investments represent the first round of the broader, $10.5 billion Grid Resilience and Innovation Partnerships (GRIP) Program, which is designed to make transmission and distribution (T&D) systems across the U.S. more resilient in the face of natural disasters, demand surges and other factors.

Industrial Info is tracking more than $138 billion worth of active and proposed T&D projects across the U.S., only $25.3 billion of which have started construction. Among the companies to benefit from the program are Xcel Energy Incorporated (NASDAQ:XEL), American Electric Power Company Incorporated (NASDAQ:AEP), Minnesota Power, ALLETE Incorporated (NYSE:ALE) and Avangrid Incorporated (NYSE:AGR).

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