AEP Texas lands $3 billion federal loan to upgrade power grid
· KRGV (NBC 5)
AEP Texas has secured a federal loan exceeding $3 billion from the U.S. Department of Energy to enhance the power grid. This funding will support 89 transmission line projects, some of which are outside the Rio Grande Valley, but will still benefit local customers. AEP Texas President Adrian Rodriguez emphasized that this loan allows for lower financing costs and quicker project completion. The reduced interest rate is projected to save residents approximately $685 million over the next 30 years, making the power system more resilient and cost-effective for consumers in the region.
AI summary · Source: KRGV (NBC 5) →
