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The Biden administration has finalized a historic $15 billion loan guarantee for California’s Pacific Gas & Electric (PG&E), marking the largest single outlay by the Department of Energy's Loan Programs Office (LPO). Announced on January 17, this funding aims to support multiple infrastructure projects, including upgrades to the transmission grid and the addition of battery energy storage. The loan is expected to save PG&E customers approximately $1 billion over its term, while the utility continues to navigate financial challenges following its bankruptcy in 2019.
Source: YAHOO