Latest news with #GrainBeltExpressPhase1
The Hill
5 days ago
- Business
- The Hill
Trump administration cancels $5B loan guarantee for solar and wind power line
The Trump administration is canceling a nearly $5 billion dollar loan guarantee for a power line that would connect wind and solar power to the grid, marking the latest in a string of attacks on renewable energy by the administration. The Biden administration had previously offered a loan guarantee of up to $4.9 billion dollars for the Grain Belt Express Phase 1 project, a massive electric transmission project in Kansas and Missouri. 'After a thorough review of the project's financials, DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting this project,' the Department of Energy said in a written statement. 'To ensure more responsible stewardship of taxpayer resources, DOE has terminated its conditional commitment,' it added. Grain Belt Express indicated in a statement that it would continue with its efforts to build the massive power line, which would stretch across 800 miles and add 5,000 megawatts of power capacity, or enough to power 500 million LED lightbulbs. 'America is energy dominant and an AI powerhouse, and Grain Belt Express will be America's largest power pipeline,' the statement said. 'While we are disappointed about the LPO loan guarantee, a privately financed Grain Belt Express transmission superhighway will advance President Trump's agenda of American energy and technology dominance while delivering billions of dollars in energy cost savings, strengthening grid reliability and resiliency, and creating thousands of American jobs,' it added. The energy department's move comes after Sen. Josh Hawley (R-Mo.) repeatedly railed against the powerline. He took credit for canceling the loan, with his office saying the cancellation came after his request. 'The Grain Belt Express boondoggle loan has been CANCELLED,' he said in a post on X. However, Democrats on the Senate Energy and Natural Resources Committee criticized the cancellation in a post on X. 'The Grain Belt Express Transmission Line would increase grid reliability and reduce electricity prices for American families. It's EXACTLY the kind of project experts say we need to meet increasing demand. Hawley, Trump, and [Energy Secretary] Chris Wright just killed it, with zero justification,' said the committee Democrats, who are led by Sen. Martin Heinrich (N.M.). In its final weeks in office, the Biden administration pushed forward several loans for climate-friendly energy projects. The Trump administration says it is now reviewing $85 billion in closed loans and conditional commitments made by the Energy Department's Loan Programs Office between President Trump's election and his inauguration. The Trump administration is also seeking more broadly to drive the country away from solar and wind, climate-friendly energy sources that they argue are not sufficiently reliable. Trump's 'big, beautiful bill' slashes incentives for solar and wind. Separately, his Interior Department recently put out a memo that is expected to make it more difficult to advance and approve wind and solar projects.
Yahoo
07-05-2025
- Business
- Yahoo
Grain Belt Express awards $1.7B in contracts for transmission line through Kansas, other states
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways The Grain Belt Express announced $1.7 billion in contractor awards on Wednesday to build a transmission line through Kansas, Missouri, Illinois and Indiana. (Robert Zullo/States Newsroom) TOPEKA – The Grain Belt Express, an 800-mile electric transmission line to be built through Kansas, Missouri, Illinois and Indiana, announced $1.7 billion in contractor awards on Wednesday. The awards were made to Quanta Services of Houston and Kiewit Energy Group Inc. of Omaha. Grain Belt Express is an Invenergy project expected to add 5,000 megawatts of U.S. energy delivery capacity, according to an Invenergy press release. It's also expected to provide $52 billion in energy cost savings to Americans over 15 years. 'Quanta Services and Kiewit have strong local presences and expect to source raw materials locally in Kansas and Missouri when possible, including concrete, aggregate, civil materials, conduit, and piping,' the press release said. 'Main construction, engineering, and procurement offices for Grain Belt Express Phase 1 will be based out of Overland Park and Lenexa, Kansas.' Kansas Senate President Ty Masterson said the Grain Belt Express is a multimillion dollar investment that will pay off for Kansans. 'The selection of contractors and suppliers with a local presence is just one of the many sizable economic benefits Grain Belt Express brings, in addition to greater energy cost savings and reliability,' he said. In April, the Kansas Corporation Commission modified the route for one of two transmission lines that will connect wind and solar farms to the Grain Belt Express that was originally planned to run for 46 miles through parts of Ford, Meade and Gray counties. 'The new route reduces the length of the line by 12 miles and avoids 24 parcels of land resulting in fewer landowners being impacted,' a KCC press release said. 'The 16-mile Bucklin-Dodge City Line remains unchanged.' A map showing the new route of the Meade-Dodge City line can be viewed here. The Invenergy press release said 1,500 agreements have been executed with landowners for easement rights. More than $105 million is part of executed easement agreements, including $19 million already paid to landowners and an additional $86 million due at construction, the company said. More than 95% of Grain Belt Express Phase 1 main line land acquisition is complete. 'Kansans working to balance household budgets and run businesses want energy that's affordable and reliable, and that's what we are getting with Grain Belt Express, all without ratepayers being forced to pay for it,' said Kansas House Speaker Dan Hawkins.
