PG&E Applies For ~$7B In Federal Loan To Reduce California Wildfire Risk: Report
Portfolio Pulse from Akanksha Bakshi
PG&E Corporation has applied for a $7 billion federal loan to help reduce California wildfire risk by burying power lines and upgrading the electric grid. The loan will be reviewed by the Energy Department's Loan Programs Office, which finances critical energy projects. The company's capital-spending plan calls for $50 billion in investments between 2022 and 2026.
June 30, 2023 | 1:11 pm
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PG&E Corporation's application for a $7 billion federal loan could potentially boost its efforts to reduce wildfire risks and upgrade the electric grid.
The loan, if approved, will provide PG&E with significant financial resources to invest in infrastructure upgrades aimed at reducing wildfire risks. This could potentially improve the company's public image and financial stability, which could have a positive impact on its stock price.
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