Utility Dive•26 days ago
DOE nixes $1.8B loan to Arizona Public Service for transmission, renewables and storage
Key Takeaway
The DOE's cancellation of a significant loan for grid modernization and clean energy projects signals increased uncertainty in federal financing for large-scale infrastructure, potentially delaying critical developments for developers and large power consumers.
AI Summary
- •The Department of Energy (DOE) has de-obligated a $1.8 billion loan to Arizona Public Service (APS) intended for transmission, renewable energy, and storage projects.
- •This action introduces significant uncertainty regarding the financing and timeline for major grid infrastructure and clean energy developments in Arizona.
- •The DOE's statement about "additional de-obligations in process" suggests a broader federal re-evaluation of loan commitments, potentially impacting other developers and large projects nationwide.
- •Developers and large power consumers should anticipate potential shifts in federal financing availability and increased risk for large-scale grid modernization and renewable integration projects.
Topics
financingpolicysolarstoragetransmissionwind