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The U.S. power grid, much of it built nearly a century ago, is being strained by storms, floods and heat waves fueled by climate change even as electric vehicles and artificial intelligence are boosting power demand, Granholm told reporters in a call. In 2021, the Texas grid collapsed during a cold spell, killing more than 200 people and leaving millions of homes without power. The projects will help bring more than 35 gigawatts of new electricity onto the grid from wind and solar and other renewable power and invest in 400 microgrids, or self sufficient energy systems, the Department of Energy (DOE) said. It was the first round of selections under the broader $10.5 billion grid resilience and innovation partnerships program managed by DOE. In southeastern Pennsylvania, PECO Energy (PECI.UL) will boost grid reliability and resilience through substation flood mitigation, replacing aging infrastructure, and deploying battery systems for backup power.

Persons: Carlos Barria, Joe Biden's, Biden, Jennifer Granholm, Granholm, Timothy Gardner, David Gregorio Our Organizations: REUTERS, Rights, Wednesday, Energy, Department of Energy, DOE, International Brotherhood of Electrical Workers, Georgia Environmental Finance Authority, PECO Energy, Holy, Thomson Locations: Mountain View , California, U.S, Texas, Georgia, Pennsylvania, California, Arizona, Washington

☆ America's electric grid is in shambles. Biden has made the largest federal investment ever to try and fix it.
▼ + stars: | 2023-10-19 | by ( Matthew Daly | Associated Press | ) www.businessinsider.com time to read: +7 min

Biden announced $3.5 billion for 58 projects across the country to strengthen the electric grid. This is the largest federal investment ever made in grid infrastructure, said US Energy Secretary. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. AdvertisementAdvertisementThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota.

Persons: Biden, Jennifer Granholm, Granholm, Chip Somodevilla, ″, Mitch Landrieu, Joe Biden, Landrieu, Jonathan Foley, Foley, Tim Walz, Steve Karnowski Organizations: US Energy, Service, Wednesday, Energy, Biden, Resilience, White House, Minnesota Gov, AP, of Commerce, CPS Energy, Consumers Energy, Flint, DTE Energy, Portland General Electric Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, Minnesota, Locust Grove, Orleans, San Antonio, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Grand Rapids, Detroit

LEXINGTON, Ky. (AP) — Keeneland has announced plans to build a paddock and enhance the saddling paddock to expand viewing and improve safety for horses and spectators. The project, estimated at nearly $93 million, has already received preliminary approval for incentives up to $23.2 million from the Kentucky Tourism Development Finance Authority, a Wednesday news release from the historic track stated. It will be Keeneland’s largest capital project since its 1936 opening and the first since the library was built in 2002. Construction on the three-level paddock building will begin in January after its all-ages horse sale, with completion scheduled for fall 2025. Political Cartoons View All 1211 ImagesNew jockey quarters will allow fans to view riders walking through before each race, the release added.

Persons: Shannon Arvin, ”, ” Arvin, Andy Beshear, ” Beshear, ___ Organizations: Keeneland, Kentucky Tourism Development Finance Authority, Kentucky Gov, “ Locations: LEXINGTON, Ky, Kentucky

WASHINGTON (AP) — The Biden administration on Wednesday announced $3.5 billion for 58 projects across the country to strengthen electric grid resilience as extreme weather events such as the deadly Maui and California wildfires continue to strain the nation’s aging transmission systems. Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said. Political Cartoons View All 1211 ImagesThe largest grant, $464 million, will go to improve five transmission projects across seven Midwestern states, from Iowa to North Dakota. In southeastern Pennsylvania, PECO Energy Co. will increase grid reliability and resilience through substation flood mitigation and replacing aging infrastructure.

Persons: —, Biden, Jennifer Granholm, Granholm, ″, Mitch Landrieu, Joe Biden, ” Landrieu, ”, Jonathan Foley, ” Foley, Isabella O'Malley Organizations: WASHINGTON, Wednesday, Energy, Biden, Resilience, White House, Entergy, CPS Energy, DTE Energy, PECO Energy, Portland General Electric, Associated Press Locations: Maui, California, Georgia, Louisiana, American, Oregon, Iowa, North Dakota, Hawaii, California , Oregon , Utah, San Francisco, Locust Grove , Georgia, Orleans, San Antonio, Minnesota, Texas , Colorado , New Mexico, Wisconsin, Texas, Michigan, Detroit, Pennsylvania, New York

☆ Canada appoints First Nations member to Bank of Canada board
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Jan 12 (Reuters) - The Canadian government filled three Bank of Canada board vacancies on Thursday with finance veterans including Ernie Daniels, likely the first First Nations member on the central bank's board, a bank spokesperson said. The Bank of Canada's board selects its governor and provides general oversight of the management and administration of the institution. Daniels and the other two appointees - David Dominy and Shelley Williams - "bring many years of accounting, capital markets, and financial management from across industries and sectors," Canada's finance ministry said in a statement. Daniels, who is from the Salt River First Nation in Canada's Northwest Territories, has over 35 years of senior financial management experience and has been chief executive of First Nations Finance Authority, a financial non-profit, since 2012. "To the best of our knowledge" Daniels is the first board member to hail from a First Nation in the bank's almost 90-year history, a spokesperson said.

☆ Return of pet projects in U.S. Congress crowds out funding for others
▼ + stars: | 2022-09-29 | by ( Andy Sullivan | ) www.reuters.com time to read: +7 min

A view shows the city of Glen Ullin, U.S., in this undated photo. Sept 29 (Reuters) - Glen Ullin, North Dakota, was first in line for money to replace its leaky water pipes before Washington cut funding by one-third this spring. The reason: Congress is yet again diverting money to pet projects known as "earmarks. That wasn't an option in North Dakota, whose congressional delegation did not submit any earmark requests this year or last. Glen Ullin probably won't qualify for infrastructure dollars because those are distributed using different criteria, officials say.

☆ Ford investing $700 mln in Kentucky truck plant, adding 500 jobs
▼ + stars: | 2022-09-27 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Ford Motor Co (F.N) said Tuesday it will invest $700 million and add 500 jobs at its Kentucky plant to support production of its new 2023 model year F-Series Super Duty truck. The companies said they would invest $5.8 billion in Kentucky, and $5.6 billion in Tennessee. Ford said its F-Series truck franchise generated nearly $40 billion in revenue in 2021 -- nearly one-third of the company's global automotive revenue last year. Through August, Ford F-Series U.S. truck sales are down 11% to 420,969, a third of total sales. Of the total F-Series sales, 6,842 were electric F-150 Lightning trucks.

Find out what your state provides for first-time homebuyers:Programs in the NortheastConnecticutThe Connecticut Housing Finance Authority gives loans for down payment assistance. Programs in the SoutheastAlabamaThe Alabama Housing Finance Association has down payment assistance programs for low-to-moderate income earners, and a tax credit program that can be combined with down payment assistance. If you're buying a home in Louisville, you might qualify for a down payment assistance loan from the local government. WashingtonThe Washington State Housing Finance Commission has several down payment assistance programs that will loan you up to $10,000. The lender is also the one who will approve and process any applications for down payment assistance, closing cost assistance, or tax credits.

Persons: you've, you'll, Massachusetts MassHousing, SONYMA, There's, Kenner, Fannie Mae, Freddie Mac, Louis County, haven't Organizations: Northeast, Connecticut Housing Finance Authority, Housing Development Fund, Housing Authority, Maine MaineHousing, New Hampshire New Hampshire Housing, New, New Hampshire Housing, New Jersey Housing, Mortgage Finance Agency, New York Mortgage Agency, Pennsylvania Housing Finance Authority, Housing Network of, Vermont Housing Finance Agency, Southeast, Alabama Housing Finance Association, Arkansas, Finance Authority, of Columbia, Washington DC, DC Housing Finance Agency, Florida Housing Finance Corporation, Georgia, Georgia Department of Community Affairs, . Kentucky, Kentucky Housing Corporation, Louisiana Housing Corporation, Maryland Department of Housing, Community Development, Baltimore City . Mississippi The Mississippi Home Corporation, North Carolina Housing Finance Agency, South Carolina Housing, South, Tennessee Housing, Agency, Virginia Virginia Housing, Virginia Department of Housing, West, West Virginia The West, West Virginia The West Virginia Housing, Fund, Midwest Illinois, Federal Home Loan Bank of Chicago, Illinois Housing, Authority, Indiana, Indiana Housing, Community Development Authority, Iowa Finance Authority, Kansas Kansas Housing, Housing Development Authority, Minnesota Housing Finance Agency, Missouri Housing Development Commission, Community Action Agency of St, Nebraska Investment Finance Authority, North Dakota Housing Finance Agency, Ohio Housing Finance Agency, South Dakota Housing Development Authority, Wisconsin Housing, Economic Development Authority, Southwest Arizona The, Southwest Arizona The Arizona Industrial Development Authority, New Mexico Mortgage Finance Authority, Oklahoma, Oklahoma Housing Finance Agency, Texas The, Affordable Housing Corporation, Texas Department of Housing, Community Affairs, Alaska Housing Finance Corporation, Financial Agency, Southern, Southern California Home, Colorado Housing, Finance, Aurora, Hawaii Housing Finance, Development Corporation . Idaho, Idaho Housing, Finance Association, Montana Montana Housing, Nevada Housing Division, Oregon, Oregon Oregon Housing, Community Services, Utah Housing Corporation . Washington, Washington State Housing Finance Commission, Wyoming Community Development Authority, FHA Locations: Northeast Connecticut, Connecticut, Delaware, Maine, Massachusetts, New Hampshire New Hampshire, New Hampshire, New Jersey, Trenton, New York The State, Pennsylvania, Centre County, Rhode, Housing Network of Rhode Island, Vermont, Southeast Alabama, Arkansas, Washington, Florida, Georgia, Gwinnett County, Kentucky, Louisville, Louisiana, New Orleans, Maryland, Baltimore, Baltimore City . Mississippi, North Carolina, Carolina, South Carolina, Lexington, Tennessee, Virginia Virginia, West Virginia, West Virginia The West Virginia, Illinois, Indianapolis, Iowa, Kansas Kansas, Kansas, Michigan, Minnesota, Missouri, Louis, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin, Southwest Arizona The Arizona, Mexico, Oklahoma City, Texas, Texas The Texas, West Alaska, Alaska, California, Southern California, Los Angeles County, Orange County . Colorado, Colorado, Aurora, Hawaii, Idaho, Montana Montana, Nevada, Oregon Oregon, Utah, Wyoming

☆ Sen. Rick Scott loves hating on New York and its governor, Andrew Cuomo. But new docs show the Florida Republican investing big time in Big Apple bonds.
▼ + stars: | 2020-10-14 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +5 min

Florida GOP Sen. Rick Scott is a frequent critic of New York Gov. Earlier this year they also disclosed between $1.1 million and $2.25 million worth of New York City Municipal Water Finance Authority bonds. "Cuomo has consistently misused taxpayer dollars and refused to ever cut government waste," Scott in June wrote in a New York Post op-ed. Earlier this year, the Scotts disclosed between $1.1 million and $2.25 million worth of New York City Municipal Water Finance Authority bonds. "Senator and Mrs. Scott have purchased hundreds of municipal bonds over the years from all over the country.

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