PPL Finalizes Award For Up To $72M In Federal Funding From U.S. DOE's Office Of Clean Energy Demonstrations; OCED Awarded PPL With The First Tranche Of Funding, $4.9M, To Begin Phase 1 Activities
Portfolio Pulse from Benzinga Newsdesk
PPL Corporation has secured up to $72 million in federal funding from the U.S. Department of Energy's Office of Clean Energy Demonstrations for a CO₂ capture project at its Louisville, Kentucky facility. The first $4.9 million tranche has been awarded to start Phase 1 activities.
September 12, 2024 | 7:47 pm
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POSITIVE IMPACT
PPL Corporation has been awarded up to $72 million by the U.S. DOE for a CO₂ capture project, with an initial $4.9 million to start Phase 1. This funding supports PPL's investment in clean energy technology.
The award of up to $72 million from the U.S. DOE is a significant boost for PPL's clean energy initiatives, particularly in carbon capture technology. The initial $4.9 million funding to begin Phase 1 activities indicates strong governmental support and potential for future advancements in this area, likely positively impacting PPL's stock in the short term.
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IMPORTANCE 80
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