Pinnacle West Capital Subsidiary Arizona Public Service Company Wins 2 Department Of Energy Grants Totaling $70M
Portfolio Pulse from Benzinga Newsdesk
The U.S. Department of Energy has awarded $70 million to Arizona Public Service (APS) for smart grid resilience and wildfire mitigation. This includes $50 million for wildfire prevention and $20 million for enhancing smart grid technology in rural and tribal communities.
October 18, 2024 | 1:04 pm
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Arizona Public Service (APS), a subsidiary of Pinnacle West Capital Corporation (PNW), received $70M from the U.S. Department of Energy to enhance smart grid resilience and wildfire mitigation. This funding could improve APS's infrastructure and service reliability, potentially benefiting PNW's stock.
The $70M funding from the U.S. Department of Energy to APS, a subsidiary of PNW, is significant for improving infrastructure and service reliability. This could enhance PNW's operational efficiency and public image, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90