The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) on July 8 announced it has closed a loan up to $3.26 billion to AEP Texas that will finance approximately 100 transmission projects across Texas.
The projects include rebuilding or reconductoring existing transmission lines, and constructing new transmission infrastructure spanning roughly 2,800 miles.
“These projects will double the power-carrying capacity of upgraded transmission infrastructure, reduce power interruptions, and connect new sources of reliable baseload generation to the grid. By expanding transmission capacity, the projects will help meet rapidly growing electricity demand from data centers, advanced manufacturing, and oil and natural gas development in the Permian Basin,” DOE said.
This loan marks the Trump Administration’s third concurrent conditional commitment and financial close, and the third utility financing completed through the Energy Dominance Financing Program.
