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Tag: Funding

Funding the Power Surge: Navigating the Trillion-Dollar Investment in the U.S. Power Sector

April 27, 2025
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| Industry News

The U.S. power sector stands at a juncture, facing a confluence of factors that are poised to trigger an era of unprecedented growth and necessitate a large influx of capital. Driven by the increasing demand from data centers, the reshoring of manufacturing, and electrification across transportation, heating, and industry, the demand for electricity is rising at a pace unseen in recent decades.

The post Funding the Power Surge: Navigating the Trillion-Dollar Investment in the U.S. Power Sector appeared first on POWER Magazine.

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DOE Releases More Funding to Reopen Palisades Nuclear Plant

April 23, 2025
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Energy Secretary Chris Wright on April 22 announced the release of the third loan disbursement to Holtec for the reopening of the Palisades Nuclear Plant in Michigan.

The post DOE Releases More Funding to Reopen Palisades Nuclear Plant appeared first on POWER Magazine.

In September 2024, the Department of Energy finalized a $  1.52 billion loan guarantee to Holtec Palisades LLC to support the restoration and recommissioning of the 800-MW Palisades Nuclear Plant in Covert Township, Michigan. Originally shut down in May 2022, the plant is set to return to service and operate until at least 2051, pending U.S. Nuclear Regulatory Commission approvals. It could mark the first-ever recommissioning of a retired nuclear power plant in U.S. history. Source: DOE

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Lignite Coal Power CCS Project in North Dakota Gets First Tranche of $350M Federal Funding

October 2, 2024
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Project Tundra, a demonstration project that seeks to capture an average of 4 million tons of carbon dioxide from flue gas from two lignite-fired units at the 705-MW Milton R. […]

The post Lignite Coal Power CCS Project in North Dakota Gets First Tranche of $ 350M Federal Funding appeared first on POWER Magazine.

The Milton R. Young Station, a two-unit lignite coal power plant near Center, N.D., is a critical energy source for Minnkota Power Cooperative, equipped with advanced emission controls and soon to be enhanced by Project Tundra's CO₂ capture and storage initiative. Courtesy: Minnkota Power Cooperative

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TVA Boosts Nuclear Funding with $150M for SMR Development at Clinch River

August 22, 2024
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The Tennessee Valley Authority (TVA’s) board of directors has approved an additional $ 150 million for the public power utility’s $ 200 million New Nuclear Program to boost continued design work and […]

The post TVA Boosts Nuclear Funding with $ 150M for SMR Development at Clinch River appeared first on POWER Magazine.

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US Hydrogen Hubs | Funding & Key Participants

October 17, 2023
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| Energy Jobs

US Hubs  |  Funding & Key Participants       https://energycentral.com/c/gn/hydrogen-america-seven-successful-hydrogen-hubs-usa     Hydrogen America      
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Trump Budget Backs Nuclear, Coal; Cuts Funding for Renewables

February 13, 2018
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The Trump administration’s fiscal year 2019 budget request released February 12 asks for more money to support fossil fuel-based power systems, but seeks funding below current levels for other energy initiatives, including renewable energy and energy efficiency.

The energy funding is part of a $ 4.4 trillion budget that features large increases in military spending, along with deep cuts to several domestic programs and entitlements, including Medicare, Medicaid, food stamps, and Social Security disability payments. Analysts immediately said it has little chance of being enacted by Congress as written, in part because of fears of what the proposal would add to the federal deficit over the next decade. A New York Times analysis said the proposed budget would add $ 984 billion to the federal deficit next year, and add about $ 7 trillion to the federal deficit over the next 10 years.

The proposal, Trump’s second since taking office in January 2017, is similar in many ways to his administration’s proposed 2018 fiscal year budget, which was rejected by Congress.…

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