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Stock impact report

Biden administration offers California's PG&E up to $15B loan to boost climate resilience [Yahoo! Finance]

Pacific Gas & Electric Co. (PCG) 
Last pacific gas & electric co. earnings: 5/1 08:21 am Check Earnings Report
US:NYSE Investor Relations: finance.yahoo.com/quote/pg
Company Research Source: Yahoo! Finance
billion, which would serve to decarbonize the massive utility's operations and increase its reliability. The funds, which would come from the Department of Energy's Loan Programs Office , would serve PG&E's Project Polaris — a portfolio of initiatives to expand hydropower generation and battery storage, upgrade grid transmission capacity and enable the establishment of virtual power plants. Such investments, according to the Energy Department, would help the company meet its forecast load growth, ensure reliable and affordable electricity and decrease costs for Californian consumers. The offer was made via the loan office's Energy Infrastructure Reinvestment project, which uses a flexible loan facility and disbursement approach for regulated investment-grade utilities. To gain approval, borrowers must show that the financial benefits gained from a loan guarantee would be passed on to communities served by the utility, according to the Energy Department. As far as PG&E is con Show less Read more
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