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DOE nixes $1.8B loan to Arizona Public Service for transmission, renewables and storage
['Diana Digangi', 'Robert Walton', 'Meris Lutz']
Utility Dive - Latest News
Please let us know if you have feedbackThe Department of Energy on Thursday confirmed the cancellation of a $1.8-billion clean energy loan commitment to Arizona Public Service, the largest investor-owned utility in that state.
The loan would have helped finance the utility’s “new or upgraded transmission projects, renewable power generation, and grid-integrated energy storage systems,” according to a DOE press release from last January.
The project was among $83 billion in Biden-era loan commitments that have been “restructured, revised or eliminated,” according to the DOE.
Other canceled loans that were previously reported include a $716-million loan to Jersey Central Power & Light to help upgrade and expand transmission infrastructure.
Wabash Valley Resources is one of five borrowers EDF worked with to modify loan terms, DOE said.