Biden Offers $4.9 Billion In Financing for Grain Belt Power Line
(Bloomberg) -- The Biden administration is offering a $4.9 billion conditional loan guarantee for a high-voltage transmission line project spanning Kansas to Missouri.
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The funding being offered to Grain Belt Express LLC could be overturned by the incoming Trump administration if not finalized by the Jan. 20 inauguration. The 2,500-megawatt line, being developed by privately held Invenergy LLC, would connect multiple regional power networks and strengthen grid reliance, the Energy Department said on Monday.
Long-distance lines are needed to cart robust but remote solar and wind power to cities — and to help boost electric capacity at a time of mounting demand.
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