California’s Pacific Gas & Electric could receive $15B in federal loans to modernize its power grid

SACRAMENTO, Calif. (AP) — Pacific Gas & Electric Co. could receive up to $15 billion in federal loans to help the utility modernize its power grid and expand clean energy infrastructure across central and northern California. The U.S. Department of Energy on Tuesday announced a conditional commitment for one of the largest loan guarantees ever under its Energy Infrastructure Reinvestment program. The funds would support projects to expand hydropower generation and battery storage, upgrade transmission capacity, and enable virtual power plants throughout PG&E’s service area.