On January 16, 2025, LPO announced eight conditional commitments under its $22.92 billion Title 17 Energy Infrastructure Reinvestment (EIR) program to utilities serving more than 14,000 people. 78 million customers in 12 states. Projects supported by today’s announcements include transportation, clean generation, energy storage, grid modernization and investments in natural gas pipelines. By accessing the lowest-cost LPO debt, these utilities will incur lower financing costs for their eligible infrastructure projects than if they had used commercial capital markets, and they will pass on the savings to their customers. The EIR addresses the third part of the LPO’s three-part mandate: making clean energy transformation affordable and achievable for all. When working with quality, regulated utility borrowers in the EIR, LPO uses a flexible lending facility and disbursement approach to accommodate the unique ways utilities plan, finance and construct infrastructure.
| Announcement of the LPO of January 16, 2025: Conditional commitments for loan guarantees to public service borrowers | |||
| PROJECT | DOLLARS | STATES | # OF CUSTOMERS BENEFITTING |
| PacificCorp Western Interconnected Renewable Energy | $3.52 billion | California, Idaho, Oregon and Utah | 2.1 million |
| DTE Gas Clean Energy | $1.64 billion | Michigan | 1.3 million |
| DTE Clean Electric Energy | $7.17 billion | Michigan | 2.3 million |
| Interstate Electricity and Light Clean Energy Projects | $1.43 billion | Iowa | 500,000 |
| Proposed Wisconsin Clean Energy and Light Energy Master Plan | $1.62 billion | Wisconsin | 500,000 |
| Consumers Energy Clean Energy | $5.23 billion | Michigan | 3.1 million |
| Central Jersey Electricity and Light Transmission Projects | $0.71 billion | New Jersey | 1.2 million |
| AEP transmission projects | $1.60 billion | Indiana, Michigan, Ohio, Oklahoma and West Virginia | 3.78 million |
| TOTAL: | $22.92 billion | 12 states | 14.78 million |
The EIR not only enables an affordable path to decarbonization, but also creates a safer and more efficient energy system. The utility’s planned projects announced today will add much-needed transmission capacity by building new transmission lines, renewing existing lines and implementing network improvement technologies that will make the most of the existing network. Additional investments in grid modernization include substation upgrades, virtual power plants and strategically placed energy storage to improve utilization and performance of the system that utilities have already built and paid for. New wind, solar and hydroelectric power generation is planned on the gigawatt scale. In addition to electrical system improvements, today’s announcements include the replacement of more than 3,000 miles of leaking natural gas distribution and main lines. These replacements prevent methane, a potent short-term greenhouse gas, from escaping, which also reduces the risk of accidents and keeps communities safe.
Visit the LPO Energy Infrastructure Reinvestment Loans by Borrower Type page for an up-to-date list of all LPO projects with utility borrowers.
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