(Investing) – WASHINGTON – The U.S. on Tuesday announced $428 million in grants to build or expand battery manufacturing and recycling plants and other clean energy manufacturing in communities that have been hit hard by recent closures of coal mines and power plants.
WHY IT’S IMPORTANT
The administration of President Joe Biden and Vice President Kamala Harris, the Democratic candidate in the Nov. 5 election, has pledged to support communities that are struggling as the country reduces the burning of coal to generate power in an attempt to curb climate change. Many of the projects are in states that have leaned Republican in recent elections or are battleground states.
KEY QUOTE
“These are communities that powered America for literally decades, and this administration, the Biden-Harris administration, believes they’re exactly the right folks in the right communities to lead the clean energy transition for decades to come,” Deputy U.S. Energy Secretary David Turk told reporters in a call.
BY THE NUMBERS
The 14 projects span 12 states including, Kentucky, Utah, West Virginia, Texas and Pennsylvania. Turk said the grants, funded by the 2021 bipartisan infrastructure law, will bring in about another $500 million from the private sector and create more than 1,900 high paying jobs.
PROJECT EXAMPLES
One project in Coraopolis, Pennsylvania will get more than $87 million to Mainspring energy for the production of 1,000 linear generators per year. The technology, designed to support utilities, data centers and micro-grids, can generate power from burning natural gas, hydrogen and biogas, or gas generated from livestock manure.
