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Biden administration offers $8.35 bln in loans for power grid

Kitco News

WASHINGTON, April 27 (Reuters) - The U.S. Energy Department said on Tuesday it is offering up to $8.35 billion in loans for companies to boost the power grid as part of the Biden administration's goal to decarbonize it by 2035.

The department is making financing available for projects that improve resilience and expand transmission capacity across the grid, "so we can reliably move clean energy from places where it's produced to places where it's needed most," Energy Secretary Jennifer Granholm said. (Reporting by Timothy Gardner, Editing by Franklin Paul)

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