LPO (Low-Income Home Energy Assistance Provider) has announced eight conditional commitments through its Title 17 Energy Infrastructure Reinvestment program, totaling $22.92 billion for utilities serving over 14.78 million customers across 12 states. The program aims to make the clean energy transformation affordable and achievable for everyone.
The commitments include funding for transmission, clean generation, energy storage, grid modernization, and gas pipeline investments. By using LPO’s lowest-cost debt, these utilities will incur lower financing costs and pass savings on to their customers.
LPO’s program serves part three of its three-part mandate: making clean energy affordable and achievable for everyone. The organization utilizes a flexible loan facility and disbursement approach to accommodate the unique ways utilities plan, finance, and build infrastructure.
The eight commitments include:
* PacificCorp Western Interconnected Renewable Energy ($3.52B) for 2.1 million customers in California, Idaho, Oregon, and Utah
* DTE Gas Clean Energy ($1.64B) for 1.3 million customers in Michigan
* DTE Electric Clean Energy ($7.17B) for 2.3 million customers in Michigan
* Interstate Power and Light Clean Energy Blueprint Projects ($1.43B) for 500,000 customers in Iowa
* Wisconsin Power and Light Clean Energy Blueprint Projects ($1.62B) for 500,000 customers in Wisconsin
* Consumers Energy Clean Energy ($5.23B) for 3.1 million customers in Michigan
* Jersey Central Power & Light Transmission Projects ($0.71B) for 1.2 million customers in New Jersey
* AEP Transmission Projects ($1.60B) for 3.78 million customers across Indiana, Michigan, Ohio, Oklahoma, and West Virginia
These commitments will support projects that add transmission capacity, grid modernization, and energy storage to improve the efficiency of the energy system. The projects also include replacing over 3,000 miles of natural gas distribution lines, reducing methane emissions and keeping communities safer.
Visit LPO’s Energy Infrastructure Reinvestment Loans by Borrower Type page for an up-to-date list of all LPO projects with utility borrowers.
Source: https://www.energy.gov/lpo/articles/deal-digest-lpos-latest-conditional-commitments-help-keep-power-affordable-through-new