U.S. Secretary of Energy Chris Wright today announced the Department of Energy’s (DOE) Loan Programs Office (LPO) closed a loan guarantee to strengthen grid reliability and ensure lower electricity costs across the midwestern region of the United States.
In accordance with President Trump’s Executive Order, Strengthening the Reliability and Security of the United States Electric Grid, the $1.6 billion loan guarantee to a subsidiary of American Electric Power (AEP) will reconductor and rebuild around 5,000 miles of transmission lines across Indiana, Michigan, Ohio, Oklahoma, and West Virginia. The project will create over 1,000 construction jobs and enhance grid reliability and capacity in rapidly growing areas.
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